The $2.5 billion Redstone Federal Credit Union spent most of 2008 calming the nerves of members fearful about their investments.
That meant doing more portfolio reviews instead of the traditional once-a-year assessment. Members looking for safety were steered in-house to certificates of deposit and other fixed-income products. Investment advisers made extra calls, and Redstone reached out even more with frequent mailings packed with timely topics.
"There is a tendency in this type of climate to hide from clients," said Russ Harton, senior assistant vice president of the investment and insurance division at Redstone in Huntsville, Ala. "We felt it was important to stay in close touch."
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