Although I would say this is usually not the case, I believe it can. I would not argue that it has never had any "redeeming factors." Some religious people do have a more generous, helpful, kind, etc. disposition due to their beliefs in a way. Religious organizations have done much "good" in the past. I would not, however, argue that only religious organizations can perform such acts.
Though I would agree that I would not consider these "redeeming factors" to be great enough for it to be considered a beneficial thing. I'd say in general it is not a desirable thing, in my opinion.
On a personal level I would say that yes, religion does have some redeeming qualities which varies greatly by person and situation. For example, someone who accidentally has something to do with someone's death can feel redeemed and forgiven through prayer and the belief that a god forgives them and does not blame them, even when other people do.
Good CAME from religion, but it's use has long passed. Religion was our first attempt at morality, but now, with the introduction of the internet, technology, the 1st world, and other things, religion has degraded in effectiveness and value. In fact, religion does more harm now than the good it did a while ago. Now, we have people killing in the name of their religion, people attacking people in the name of their religion, and even people being murdered for the silly crime of drawing their prophet. (In opposition of this sad reality, I will state Muhammad is lower than dirt).
No, religion does not have any redeeming factors. Based on the development of religion in history and the fact that followers are "rewarded" for good deeds (karma, entrance to heaven, etc.), religion is nothing more than an outdated control system.
Religion makes people think irrationally and judge others as being "lesser" than them when people adhere to different societal norms... or when they are just part of another religion. Not to mention all of the wars that have been fought throughout time due to differences in religious opinions...
Some good comes out of religion, but religion is not necessary to do good deeds. If anything, religion is detrimental to society as it is the abdication of reason. Religion espouses devotion to dogma and authority. It is contrary to science, science being a concern for evidence, logic, and the search for new and verifiable information.