Brighter Day Savings | Personal | Redstone Federal Credit Union (2024)

FAQs

What is the brighter day savings rate at Redstone Federal Credit Union? ›

Make your rainy days brighter with a Brighter Day savings account. Maximize your returns with a rate more than 19x the national savings average! Open a Brighter Day savings account and earn 5.09% annual percentage yield (APY) on balances up to $2,500, and 0.45% APY on balances over $2,500.

If we do not authorize and pay an overdraft, your transaction will be declined. What fees will I be charged if Redstone Federal Credit Union® pays my overdraft? Under our standard overdraft practices: • We will charge you a fee of up to $25 each time we pay an overdraft.

There is no fee for transferring money into your Redstone account from an external financial institution. However, there are fees for next-day ($2 fee) and instant transfers ($3 fee) from your Redstone account to an external financial institution.

Must be eligible for membership and open a share savings account to join RFCU. A $5.00 minimum balance is required to open and be maintained in the share savings account at all times. Fees and other restrictions may apply. Must have online banking user name and PIN/password to open account online.

With most savings accounts and money market accounts, you'll earn interest every day, but interest is typically paid to the account monthly.

Plus, when you get paid using direct deposit at Redstone, you could get your money up to two business days sooner to do or buy the things you want, sooner. Early pay is free and happens automatically, but only with direct deposit.

There is a $16 fee to process a Domestic Wire Transfer from your Redstone Federal Credit Union® account. Domestic Wires are sent Monday thru Friday from 8 a.m. to 4:30 p.m. excluding holidays. Requests received via fax or email after 4:15 p.m. will be processed the next business day.

FICO, used by 90% of top lenders and VantageScore, used by Credit Karma, are two of the top credit score models. If you currently have a lending product with Redstone, your FICO score is available for FREE within online banking.

Redstone offers lower rates on loans and credit cards and higher yields on savings accounts.

How much money do you need to open a checking account at a credit union? ›

Fund the Account

Once you deposit money into the account, you can start using it immediately. Fortunately, opening a credit union checking account typically requires a small deposit of between $5 and $25. You can fund your account using cash, check, debit card, or other electronic transfer.

Redstone offers lower rates on loans and credit cards and higher yields on savings accounts.

You can find all types of savings accounts at credit unions — from high-yield savings accounts to certificates of deposit (CDs) to IRAs. They work the same way savings accounts at traditional banks do.

High-yield savings accounts reward you with a higher interest rate than traditional savings accounts, making your money grow faster as it sits in your account. The interest rate that these accounts offer is known as the annual percentage yield, or APY. The higher your APY, the faster your money grows.