About Us
A full service financial institution made up of "people helping people."
We are a NOT FOR PROFIT cooperative, established only for the purpose of serving the financial needs of our members. Most financial institutions are operated to make a profit for their stockholders or owners, but a credit union distributes its profit back to its members. Members' savings form a pool of money from which loans are made to other members. Borrowers are charged a reasonable rate of interest on their loans as a form of rental on the money they are using. This interest provides income to cover operational expenses and build required reserves. After expenses are paid and reserve commitments are met, remaining funds are distributed to members, usually in the form of dividends on savings.
Red River Federal Credit Union was originally chartered in November 1957, to serve military or civilian personnel of the U.S. government who were assigned to or worked at Altus Air Force Base, in Altus, Oklahoma. This charter has been amended numerous times to serve different types of organizations and communities.
Our field of membership includes persons, along with their family members, who live, work, worship, volunteer*, or attend school in the following counties: Beckham, Caddo, Comanche, Custer, Greer, Harmon, Jackson, Kiowa, Roger Mills, Tillman and Washita counties in Oklahoma, and Vernon, Texas in Wilbarger County. Membership also extends to businesses and other legal entities operating in those counties.
* VOLUNTEER: For interpretation of a volunteer qualification, please call (580) 536-5232.
The board of directors is composed of unpaid volunteers who meet at least monthly to represent the membership in decision-making. The board has complete control of the credit union within guidelines set by regulatory agencies. The board acts on interest rates, declares dividends on savings, sets general policies, and hires management to carry out policy.
