As financial institutions across the country adapt to a rapidly changing economic and technological environment, Red River Credit Union (RRCU) remains focused on steady growth, community service, and digital transformation in 2025.
According to Brad Bailey, President and CEO of RRCU, the regional economy remains stable for now, but global uncertainties—including the potential impact of tariffs—are being closely monitored. “We feel the regional economy is in good shape at this point, but there is uncertainty in the national and global economy that could impact it negatively,” Bailey said.
Despite the potential for an economic slowdown, RRCU continues to grow both its loan and deposit portfolios. “We are still lending and growing deposits and do not plan on changing that,” Bailey said. He noted that the institution is financially prepared to weather any negative effects, should they arise.
Bailey also addressed how local consumers and businesses are adjusting to the current interest rate environment. While rising rates have drawn national attention, he pointed out that affordability—particularly in the auto sector—is a more immediate concern. “We see a slowdown in auto sales, not so much due to interest rates, but due to the high price of autos which has made them much less affordable,” he said. While he expects interest rates to eventually decrease, he warned that such a move might signal broader economic softening. “To do so, inflation will need to come down some more—or the economy may slow, forcing the Fed to lower rates, which is never a good sign.”
In terms of supporting local economic development, RRCU is doubling down on its commitment to competitive rates and financial education. “By offering attractive rates on both loans and deposits, our goal is to grow both,” said Bailey. He added that financial literacy is a growing focus for the credit union, which offers free programs to schools and community groups. “Many people, especially young people, struggle with managing their finances. We see this as a necessary service.”
RRCU is also adapting to changes in the banking landscape by embracing digital technology. “We have numerous branches, and this won’t change anytime soon, but we do invest heavily in mobile and online banking, cybersecurity, fraud protection, and robust payment initiatives,” Bailey said. This year, the credit union is launching “Rosey,” a new AI-powered digital assistant. “AI currently has limitations, but we see it as an important part of our operations moving forward,” he added.
For business owners, Bailey’s advice is straightforward: use credit wisely and plan ahead. “It’s important to use credit to run your business, but don’t overextend yourself,” he said. “Having ample capital to operate your business is extremely important, especially during lean times.”
As the financial sector continues to evolve, Red River Credit Union is positioning itself as both a reliable community partner and an innovator in digital services—proving that it’s possible to balance tradition and transformation in today’s complex economic environment.
— BIZ Magazine