Redstone Federal Credit Union is not-for-profit member-owned financial institution in Alabama. They are the largest credit union in Alabama and frequently offer rather impressive savings rates on their 6 month through 5 year CDs (certificate of deposits). If you are a member of Redstone Federal Credit Union and are in the market for a bank CD, be sure to ask about current promotional CD rates as they are known to frequently offer these as well.
Redstone Federal Credit Union’s History:
(as seen on redfcu.org)
The U.S. Government granted RFCU their charter on November 28, 1951. To give you a time reference; Elvis Presley was still in high school and Harry Truman was President of the United States. Eleven individuals with assets totaling just $55, stored in a shoebox, started membership at RFCU, and they’ve been growing ever since. RFCU is now the largest credit union in the state of Alabama and ranks among the Top 40 credit unions in the United States.
Today, RFCU has over 2.6 billion in assets and over 320,000 members. They have 20 branch locations in Huntsville and surrounding areas, along with over 85 ATM Satellite Stations.
CD Rates offered through Redstone Federal Credit Union:
- 6 month CD with a fixed rate of 1.10% APY with a minimum deposit of $1,000 required.
- 12 month CD with a fixed rate of 1.25% APY with a minimum deposit of $1,000 required.
- 18 month CD with a fixed rate of 1.45% APY with a minimum deposit of $1,000 required.
- 24 month CD with a fixed rate of 1.60% APY with a minimum deposit of $1,000 required.
- 48 month CD with a fixed rate of 2.30% APY with a minimum deposit of $1,000 required.
- 60 month CD with a fixed rate of 2.60% APY with a minimum deposit of $1,000 required.
Certificate of Deposit Terms, Conditions and Features:
- A minimum balance of $1000 is required to be maintained at all times for all regular Share Certificates.
- A minimum balance of $100,000 is required to be maintained at all times for all Jumbo Share Certificates.
- For standard non-compounding share certificates, no dividends are added to the share certificate but are transferred to a designated share account.
- A substantial penalty will be imposed for the early withdrawal of certificate principal prior to maturity date. A withdrawal could reduce earnings.
- Rates and terms subject to change without notice. Fees and other conditions could reduce earnings on the account.
- For fixed rate accounts, once a share certificate is opened, the dividend rate and annual percentage yield will be in effect for the term of the account.
- Dividends are paid on the last day of each quarter. “Quarterly” dividend postings will occur at the end of each quarter (total of 4).
- Refer to the Share Certificate TIS Disclosure Supplement for further disclosures.
- Call the Money Rate Line at 837-6110 (locally) or 1-800-234-1234 (long distance only) for current rates, 24 hours a day.