Redstone Federal Credit Union
Encyclopedia
Redstone Federal Credit Union (or RFCU) is a federally chartered credit union
based in Huntsville, Alabama
. RFCU is Alabama’s largest credit union and is regulated and insured through the National Credit Union Administration
(NCUA) RFCU serves more than 320,000 members through 20 branches across North Alabama and Tennessee. RFCU has over $2.6 billion USD
in assets. RFCU is ranked the 39th largest credit union in the United States by assets and 18th by membership as of 2010.
In 2009, RFCU had a 5-Star superior rating by BauerFinancial, Inc., the nation's leading independent credit union rating and research firm. Only 17% of the nation's credit unions have held this distinction for as long as RFCU.
. The original charter served employees of Redstone Arsenal only. Today, RFCU members are located all over the world and the original $5 membership fee constitutes members' ownership in the credit union.
and checking accounts, to Business Services for Sole Proprietorships. RFCU also has Call-24 for Telephone Banking
and online banking
which includes bill pay, CUAlerts, eStatements, and FinanceWorks.
The Investments & Insurance Services Division also offers a wide variety of investment and insurance services.
RFCU has a full service Real Estate department which offers a multitude of mortgage
products like Adjustable Rate Mortgages, Fixed Rate, Construction, Flexible Mortgages, and HELOCs. Members may start their loan process by using an Online Mortgage Application.
RFCU participates in the BALANCE Financial Fitness Program. BALANCE is a free financial counseling service available to RFCU members. Counselors work with members to help avoid or resolve financial distress and establish personal financial control. BALANCE financial counselors help members develop customized budget plans designed to achieve unique and individual financial goals.
The RFCU website offers a wide variety of services. These services include: rates, calculators, online employment application
, demonstrations and FAQs about various products and services, and security articles.
RFCU has over 85 ATMs, Alabama’s first Xtreme ATM, and a Mobile ATM that is utilized per community request. RFCU is part of the AFFN, CIRRUS, CO-OP, Presto! and STAR networks for domestic ATMs and the AFFN, CIRRUS, and CO-OP networks for international ATMs.
Credit union
A credit union is a cooperative financial institution that is owned and controlled by its members and operated for the purpose of promoting thrift, providing credit at competitive rates, and providing other financial services to its members...
based in Huntsville, Alabama
Huntsville, Alabama
Huntsville is a city located primarily in Madison County in the central part of the far northern region of the U.S. state of Alabama. Huntsville is the county seat of Madison County. The city extends west into neighboring Limestone County. Huntsville's population was 180,105 as of the 2010 Census....
. RFCU is Alabama’s largest credit union and is regulated and insured through the National Credit Union Administration
National Credit Union Administration
The National Credit Union Administration is the United States independent federal agency that supervises and charters federal credit unions...
(NCUA) RFCU serves more than 320,000 members through 20 branches across North Alabama and Tennessee. RFCU has over $2.6 billion USD
United States dollar
The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....
in assets. RFCU is ranked the 39th largest credit union in the United States by assets and 18th by membership as of 2010.
In 2009, RFCU had a 5-Star superior rating by BauerFinancial, Inc., the nation's leading independent credit union rating and research firm. Only 17% of the nation's credit unions have held this distinction for as long as RFCU.
History
On November 28, 1951, the United States Government granted RFCU its charter. Eleven individuals with assets totaling $55 started membership at RFCU. The original $55 was saved in a shoebox and the first office was located on Redstone ArsenalRedstone Arsenal
Redstone Arsenal is a United States Army base and a census-designated place adjacent to Huntsville in Madison County, Alabama, United States and is part of the Huntsville-Decatur Combined Statistical Area...
. The original charter served employees of Redstone Arsenal only. Today, RFCU members are located all over the world and the original $5 membership fee constitutes members' ownership in the credit union.
Services
Products and services offered by RFCU range from the typical savingsSavings account
Savings accounts are accounts maintained by retail financial institutions that pay interest but cannot be used directly as money . These accounts let customers set aside a portion of their liquid assets while earning a monetary return...
and checking accounts, to Business Services for Sole Proprietorships. RFCU also has Call-24 for Telephone Banking
Telephone banking
Telephone banking is a service provided by a financial institution, which allows its customers to perform transactions over the telephone.Most telephone banking services use an automated phone answering system with phone keypad response or voice recognition capability...
and online banking
Online banking
Online banking allows customers to conduct financial transactions on a secure website operated by their retail or virtual bank, credit union or building society.-Features:...
which includes bill pay, CUAlerts, eStatements, and FinanceWorks.
The Investments & Insurance Services Division also offers a wide variety of investment and insurance services.
RFCU has a full service Real Estate department which offers a multitude of mortgage
Mortgage loan
A mortgage loan is a loan secured by real property through the use of a mortgage note which evidences the existence of the loan and the encumbrance of that realty through the granting of a mortgage which secures the loan...
products like Adjustable Rate Mortgages, Fixed Rate, Construction, Flexible Mortgages, and HELOCs. Members may start their loan process by using an Online Mortgage Application.
RFCU participates in the BALANCE Financial Fitness Program. BALANCE is a free financial counseling service available to RFCU members. Counselors work with members to help avoid or resolve financial distress and establish personal financial control. BALANCE financial counselors help members develop customized budget plans designed to achieve unique and individual financial goals.
The RFCU website offers a wide variety of services. These services include: rates, calculators, online employment application
Application for employment
An application for employment, job application, or application form is a form or collection of forms that an individual seeking employment, called an applicant, must fill out as part of the process of informing an employer of the applicant's availability and desire to be employed, and persuading...
, demonstrations and FAQs about various products and services, and security articles.
RFCU has over 85 ATMs, Alabama’s first Xtreme ATM, and a Mobile ATM that is utilized per community request. RFCU is part of the AFFN, CIRRUS, CO-OP, Presto! and STAR networks for domestic ATMs and the AFFN, CIRRUS, and CO-OP networks for international ATMs.