Redstone Federal Credit Union, a $4.86 billion institution based in Huntsville, Ala., said it recently surpassed the 400,000 figure in membership, as it climbs towards the $5 billion-asset mark.
Since March 2016, Redstone FCU saw its assets grow by 12.6 percent to the end of May 2017.
Redstone FCU said it is the largest credit union in the state of Alabama and the sixteenth largest federal credit union in the country. In recent years, the credit union has expanded its footprint in North Alabama and Middle Tennessee for a total of 26 branches.
“Our member growth represents Redstone’s continued commitment to member service, community outreach and cutting-edge products, ‘’ said Joseph Newberry, Redstone’s president and CEO, in a statement. “We are certainly excited about the growth.”
Over the past two calendar years, Redstone FCU has seen its net income edge up from about $31.7 million to $33.5 million.
