Redstone receives A+ rating from online financial site

May 20, 2020 _ Redstone Federal Credit Union® has been recognized by DepositAccounts.com as one of the healthiest credit unions in America.

DepositAccounts.com, a subsidiary of Lending Tree, awarded Redstone an A+ grade. Only 11% of all financial institutions receive an A+ rating.

Joe Newberry, Redstone’s President and CEO, said the credit union appreciates the recognition. “It’s important that our 500,000 members know that their financial institution not only provides the best value and service, but that it is on safe fiscal footing, responsive to its members, and committed to excellence.’’

DepositAccounts.com evaluates the financial health of over 10,000 banks and credit unions in the United States once per quarter. To determine credit union ranking and recognition, DepositAccounts.com grades each institution on various factors, including capitalization, deposit growth, and loan-to-reserve ratio.

“We believe it is important to give consumers a way to evaluate the financial health of their institutions,’’ said Ken Tumin, founder of DepositAccounts.com. “Our list empowers consumers to make informed decisions when selecting a financial institution.’’

Redstone hit two milestones during 2020, it reached 500,000 members and surpassed $5.5 billion in assets, making it one of the 20th largest federal credit unions in the country.