BIRMINGHAM, Ala. — After 16 years as Redstone Federal Credit Union President/CEO Gerald E. Toland will retire on May 31st.

Under Toland's leadership Redstone FCU has grown from a $579 million credit union serving 149,000 members to $2 billion in assets and serving some 280,000 members.

“The past 16 years have been an unparalleled and rewarding experience for me,” said Toland. “I am honored to have had the opportunity to help lead Redstone Federal Credit Union to where it is today. I could not have accomplished this without the support of my family, our outstanding board of directors, an extraordinarily dedicated staff, and all of the members of this credit union. Along the way, I've had the opportunity to work with many financial leaders here in Alabama and across the country. Many have become great friends, and I look forward to sustaining these relationships in the years ahead.”

The board has appointed Mike Goodman, executive vice president Operations/Technology, as interim president, effective June 1, 2007, until Toland's successor is named.

Toland and his wife, Veronica, are now building a new home in Madison County where they intend to enjoy their retirement.