Redstone Federal Credit Union of Huntsville, Alabama, is among the 20 largest credit unions in the nation, with over 410,000 members and some $4.5 billion in assets. In 2014, Redstone had a net worth well above that required for a “well- capitalized” credit union, reduced employee turnover rates to half the industry standard, and averaged nearly 1,000 new members each month for almost seven years. They were thriving by all measures.
“Our members are the reason we exist. Our purpose is to always add value to our membership,” says CEO Joe Newberry. Driven by this purpose and by its core value of excellence, Redstone’s leadership team wanted to reach higher.