Redstone Federal Credit Union

Spring 2022 Newsletter

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Small businesses are the engine that keep our economy moving. At Redstone, we support our small business members with the funding, tools, services, and advice they need to grow and remain an integral part of their communities. Our focus is on assisting businesses with up to 250 employees. More than a decade ago, we began building our Business Solutions department to better serve our members. We wanted a department that would partner with businesses, non-profits, and churches to be their go-to provider. Sherry Swinford, whom you will meet on page 15 of this issue, helped set up the department, which now serves more than 17,000 business members. We thank her for her insight and exceptional service. Our team has grown, product offerings have expanded, and we've found new and better ways to serve our businesses. For example, we upgraded our business online banking to automate and simplify some of those business processes. We funded the first Business Assistance Microloan, or BAM, in 2018. Initially, business owners could borrow up to $25,000. at amount has now been increased to a maximum of $100,000. We worked closely with our small business owners during the onset of the pandemic and served as a lender for the Paycheck Protection Program. In 2020, we were named Alabama's top credit union provider of PPP loans. Overall, we processed and awarded $50 million in PPP loans to 2,000 businesses and non-profits. We're devoting this issue of aspire! to our business members because we know how important they are to our communities, and we work hard to help them stay strong. If you haven't considered Redstone for your business, now is a great time! p. 6 | Medicare Options p. 8 | Food Truck Rally p. 12 | Finding Lost Money Send your comment s, suggestions or questions to: ASPIRE@REDFCU.ORG Editor: Patricia Dedrick Lloyd TABLE OF CONTENTS 2 | r e d f c u.o r g Must be eligible for membership and open a share savings account to obtain any product or service. A minimum balance of $5.00 is required to open share savings account and must be maintained in share savings account at all times. Fees and other restrictions may apply. RFCU © and its affiliates are committed to fair, equitable and nondiscriminatory practices. 12 8

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