Redstone Federal Credit Union is headquartered in Huntsville and is the largest credit union in the state of Alabama. It is also the 34th largest credit union in the nation. It was established in 1951 and as of March of 2022, it had grown to 1,205 employees and 679,523 members at 37 locations. Redstone Federal Credit Union has an A health rating.
Membership in Redstone Federal Credit Union is open to military and civilian personnel working at Redstone Arsenal. Employees of Madison County (AL) and members of the National Guard in the Alabama counties of Limestone, Madison, or Morgan, or Lincoln County in Tennessee also qualify, as do the employees/members of more than 1,500 Membership Partner groups.
See current membership details
I have been using this Credit Union for almost 12 years now. They have treated me fairly and always been helpful in resolving any problems that I have encountered while banking with them. I have overdraft protection and security notifications which have made keeping track of my money and protecting it very easy. The only draw back that I have encountered is that they have not expanded the amount of branches that they have. They are solely located in Northern Alabama which can be a problem when I am travelling or conducting business throughout the State.
Redstone Federal Credit Union is a credit union located in northern Alabama. I have been a part of the credit union for the past 5 years. Overall, it has been a good experience. I like that when I get paid I do not have to worry about whether my money will be in the account. Generally, I can see the pending deposit one to two days before it post. I enjoy that Redstone has a rewards program, every time you use your debit card, they deposit a certain amount into your account (I'm not sure of the amount). My husband and I each have account a Redstone, making it very easy for us to transfer money to each other or other people who have Redstone. The app is very convenient. I am able to check my account, authorize transfers to other people, as well as apply for other things that may be interesting to me. One thing that has been very inconvenient is the bill pay feature has never worked for me. Another thing thay has been am issue is if I deposit money at the atm, I can not put the money directly into my checking account. I hasbed yo put the money into my savings account hem transfer to my checking account, due to always getting an error message. The customer service that I experience in all of the local branches is great. They all know me by name. I feel that is important.
The most incompetent employees if you want anything done right you need to do it yourself they won't even answer their phones dont even try to explain what you want done before you know it they close your bank account without your permission we had the same account for over 20 yrs I have given them so many chances even changed banks because they screwed us up twice now I get 1 fraud Check got a new account & waiting for our stimulus check to go in before we close our account been pending since Saturday now we received our fraud money back they closed the account went to bank they reopened it but too late no stimulus so guess we have to wait for gov to send a paper check been dealing with this bank over a month & having gall bladder surgery at the same time I'm devastated
|Return on Assets - YTD||1.35%|
|Return on Equity - YTD||17.03%|
|Annual Interest Income||$52.0MM|
|Assets and Liabilities|
|Assets||Q1 2022vs Q1 2021||$7.93B$6.89B|
|Loans||Q1 2022vs Q1 2021||$3.17B$2.95B|
|Deposits||Q1 2022vs Q1 2021||$6.99B$6.17B|
|Equity Capital||Q1 2022vs Q1 2021||$606.1MM$660.6MM|
|Loan Loss Allowance||Q1 2022vs Q1 2021||$29.6MM$35.4MM|
|Unbacked Noncurrent Loans||Q1 2022vs Q1 2021||$9.9MM$9.7MM|
|Real Estate Owned||Q1 2022vs Q1 2021||$0$370.00K|
Rates for Redstone Federal Credit Union are currently being reviewed.