Redstone Federal Credit Union has partnered with retail chain Rural King to expand their services without having to build branches.
Rural King is the nation’s fastest growing privately owned farm and home store, with more than 100 stores in 13 states. Three locations are in Alabama — in Dothan, Huntsville and Muscle Shoals.
Redstone’s collaboration with Rural King will allow credit union members to conduct many banking transactions at participating credit union locations within the AUSA (Association of the United States Army) network. This will help Redstone provide members who joined through the Rural King relationship access to services without a local Redstone branch nearby.
And the Redstone partnership also will offer Rural King customers access to financing. Through the partnership, Rural King customers can apply for low-rate equipment loans and credit cards by becoming members of Redstone.
“Redstone’s decision to offer products and services to Rural King customers is another way to serve our rural neighbors who may find it difficult to obtain lower cost financial services,” said Joe Newberry, Redstone president and CEO.
Redstone is the largest credit union in the state of Alabama, with more than $5 billion in assets. The credit union says one-third of its current members are rural dwellers of modest means.
Redstone has branches in 27 locations across North Alabama and Tennessee, serving more than 486,000 members.
Rural King was founded in Mattoon, Illinois in 1960.
