Redstone FCU Planning New Branches in Alabama, Tennessee
Alabama’s Redstone Federal Credit Union said Friday it is charting new expansion into hometown metro Huntsville and Nashville, Tenn., with plans soon for two new branches “and likely more later on.”
The first branch in Murfreesboro, a Nashville suburb, will open this fall and the second in the spring of 2012 in Madison, Ala., a growing city and part of metro Huntsville.
The Murfreesboro branch to be located near a Walmart and to serve nearby colleges would be the second Tennessee branch for the $3 billion Redstone. It already has a facility in Fayetteville.
“In our Madison branch, we are looking at an area with continuing growth in housing, business and education, “said Joseph Newberry, president/CEO.
In Murfreesboro, “we have a growing dynamic market and an involved and caring community anchored by higher education, a scenario in many ways similar to Huntsville,” Newberry said. “The success of our Fayetteville branch coupled with a growing Tennessee-based membership, partially propelled by students attending Middle Tennessee State University, led us to this decision.”
In the months ahead, Redstone will be looking at other areas for branch expansion in the Nashville area as well as northern Alabama, Newberry said.
The 333,000-member Redstone now lists 20 full-service branches on its website.