Huntsville-headquartered Redstone Federal Credit Union (RFCU) is the best credit union in the state of Alabama, according to Forbes.
This marks the fourth consecutive year that Forbes has recognized RFCU as one of the top credit unions in the state. The national business magazine issues annual rankings based on a review of member surveys and overall standings.
In partnership with research firm Statista, Forbes recently released its annual ranking of the “Best Credit Unions in Each State for 2022.” According to a release, financial institutions were scored in sub-categories, including trust, member and branch services, digital services, financial advice, and terms and conditions.
Forbes advised in unveiling this year’s list that only 2.7% of all banks and 3.4% of all credit unions made its list. Only three of the more than 100 credit unions that are headquartered in Alabama were recognized.
According to RFCU president and CEO Joe Newberry, the credit union’s commitment to member service has been at the forefront of its mission in its seven decades of operation.
“Over the past 70 years, Redstone has remained steadfast in its commitment to help members improve their financial well-being and will continue to do so, despite the economic challenges,” Newberry said.
Forbes deputy editor John Dobosz wrote that customer relations would become a vital component of service during times of economic uncertainty.
“The firms with the highest levels of customer satisfaction will enjoy a long-term competitive advantage,” noted Dobosz.
Additionally, Redstone was named one of the nation’s Best Banks and Credit Unions in 2022 by GOBankingRates.
Forbes’ complete national rankings of credit unions for 2022 can be viewed here.
RFCU, which operates 27 branches across North Alabama and Tennessee, presently holds more than $8 billion in assets, making it the largest member-owned financial institution in Alabama and one of the largest federal credit unions in the nation by assets.
Dylan Smith is a staff writer for Yellowhammer News. You can follow him on Twitter @DylanSmithAL
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