Redstone is honored to receive the Charles L. Ray, Jr. Social Justice Memorial Award at the 2016 Interfaith Mission Service Awards Dinner.

Redstone is honored to receive the Charles L. Ray, Jr. Social Justice Memorial Award at the 2016 Interfaith Mission Service Awards Dinner. This annual event provides funding for programs throughout our community and highlights organizations and individuals who reflect the following ideals of the Interfaith Mission Service  

Redstone Receives Social Justice Award

May 19, 2016

The Interfaith Mission Service helps promote promote religious, racial and cultural harmony within the Huntsville community.

Redstone is honored to receive the Charles L. Ray, Jr. Social Justice Memorial Award at the 2016 Interfaith Mission Service Awards Dinner. This annual event provides funding for programs throughout our community and highlights organizations and individuals who reflect the following ideals of the Interfaith Mission Service:

Promote interfaith cooperation
Work toward racial harmony
Campaign for social justice 
Provide direct help to the most vulnerable in our shared community

Not only was Redstone the recipient of this prestigious award, but Joe Newberry, our President and CEO, served as the evening’s Keynote Speaker. He began his speech with an overview of credit union history by mentioning credit unions were first developed in the 1800’s to unite individuals, in a cooperative spirit, to pool resources in order to provide members a means to borrow at affordable rates.  Thus, the common philosophy shared by credit union’s today of “People Helping People".

Mr. Newberry then enlightened the audience about the exorbitant rates charged by payday lenders, as well as the fees assessed by title loan operations. Redstone has actively rallied against predatory lending practices.

"Predatory Lending: any lending practice that imposes unfair or abusive loan terms on a borrower. It is also any practice that convinces a borrower to accept unfair terms through deceptive, coercive, exploitative or unscrupulous actions for a loan that a borrower doesn’t need, doesn’t want or can’t afford."- Debt.org article

He outlined the course of action Redstone has taken to provide fair lending options and how we actively support legislation that would prohibit the actions of predatory lenders. As a community leader, our Board of Directors and staff have established alternative sources of lending to borrowers, whom predatory lenders prey on. Through various partnerships with community organizations like St. Vincent de Paul, Phoenix Industries, Nexus Energy, and Kids to Love, we’ve also been able to extend special loan program offerings to those who need it most.

He concluded his speech by recognizing the Interfaith Mission for their mission of service. It was indeed an honor to be among many sharing similar values of opposition to social injustices. 

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