Money® Magazine named
Redstone Federal Credit Union®
the "best bank" in Alabama aer
an extensive review of its products,
services, fees, interest rates and
account requirements.
Money Magazine said Redstone is the best
bank in Alabama partly because its "fees are
below average across the board, and its Share
Savings Account pays an interest rate three
times as high as the next highest rate on
savings accounts available in Alabama."
Even though Redstone was evaluated on the
same criteria as banks in the state, the two
entities have some major differences. Credit
Unions are member-owned cooperatives and
are not-for-profit. Our philosophy of "People
Helping People'' means community support
is in our DNA.
Money evaluated the nation's 90 largest
brick-and-mortar banks, 50 credit unions,
and 15 online banks, as identified by bank
consultancy firm Novantas.
Bankrate.com, Money's project partner,
collected data on fees, interest rates, and
r e d f c u.o r g
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account requirements for checking and
savings accounts. Using Bankrate's data,
Money compared more than 800 accounts
and 18,000 data points.
Money also looked at banks' and credit unions'
ATM fees, customer service ratings and their
mobile app ratings in the iTunes® and Google
Play™ stores. Redstone's mobile banking app
has regularly been ranked in the top five in
the nation.
"Our member satisfaction ratings consistently
score us in the top 90 percent, and that's
important to us as we strive to grow and
improve each year,'' said Joseph Newberry,
Redstone's President and CEO.
"However, to be selected as the top bank in
Alabama by a nationally known and reputable
publication is certainly a high honor and one
that makes us proud,'' Newberry said.
