Routing# 262275835
A secure way to grow your money — Share Certificates
Higher Dividends | Regular | Jumbo | Multiple Term Options
A secure way to grow your money — Share Certificates
Higher Dividends | Regular | Jumbo | Multiple Term Options
If you’re looking for a faster way to grow your savings – without the risk of investing – a certificate might be the right move. (A share certificate is the same as a bank certificate of deposit or CD.)
Certificates allow you to plan out your savings by providing guaranteed returns that you can access on a set maturity date. And generally, the longer the term, the more you’ll earn.
With a variety of terms and competitive rates, Redstone’s certificates are a smart way for you to ensure your money grows. Choose from regular certificates, jumbo certificates, or Member’s Choice Certificates that allow you to change your rate any time after the first 90 days and then once every 365 days thereafter.
REGULAR CERTIFICATES |
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$1,000Minimum Balance to Open an Account |
$1,000Minimum Balance to Earn Dividends |
QuarterlyPayment of Dividends |
JUMBO CERTIFICATES |
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$100,000Minimum Balance to Open an Account |
$100,000Minimum Balance to Earn Dividends |
MonthlyPayment of Dividends
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Regular certificates and Member's Choice Certificates both require a minimum balance of $1000 to open. Jumbo certificates require a minimum balance of $100,000 to open.
Compounding: Dividends are added to the principal and accrue as the certificate matures.
Non-Compounding: Dividends are deposited into your primary savings account monthly or quarterly, so you have access to the earnings.
Compounding: Ideal for members who want to invest and have their dividends go right back into the certificate and keep earning dividends.
Non-Compounding: Ideal for members who want to invest but need access to cash throughout the certificate term.
Certificates do have penalties for early withdrawals. However, if you only need access to the dividends you earn, consider opening a certificate with non-compounding dividends. However, if you need greater access to your money, you may want to consider another option, like a Money Market Account.
You can save worry-free with our Member’s Choice Certificates, which offer you the potential to earn higher dividends during your certificate’s term. You can lock in a new rate any time after the first 90 days and then once every 365 days thereafter. So, if the rates rise, your earnings can too. (Unfortunately, you can’t change rates on a regular or jumbo certificate.)
Certificate Laddering is a way to boost your savings and still have frequent access to your cash. Certificate laddering is a technique that involves dividing your investment across two, three, or more certificates. It typically brings you higher dividends than investing in only one certificate renewed over time.
You create your ladder consisting of several certificates, each with a different rate and term. When a certificate matures, you can reinvest your money — buy a new certificate at the longest term — but you also have the option to pull out your funds, if necessary.
APY = Annual Percentage Yield
Must be eligible for membership and open a share savings account in order to join RFCU and obtain a certificate. A minimum balance of $5.00 is required to open and be maintained in the share savings account at all times. Fees and other restrictions may apply. Fees and other conditions could reduce earnings on the account.
Certificate rates, terms, and conditions are subject to change without notice. A penalty will be imposed for early withdrawal of certificate principal prior to maturity. A withdrawal could reduce earnings. Fees and other conditions could reduce earnings on the account.
The minimum balance required to open a Regular Certificate or Member’s Choice Certificate is $1000. The minimum balance required to open a Jumbo Certificate is $100,000. You must maintain these minimum balances at all times to earn the disclosed annual percentage yields (APY). Once a certificate is opened, the dividend rate and annual percentage yield will be in effect for the term of the account.
For non-compounding certificates, no dividends are added to the certificate but are transferred to a designated share account. Dividends cannot remain on a non-compounding certificate. Payout of dividends is mandatory.
Member’s Choice Certificates: After 90 days from the certificate opening date, members have the option to request to change the dividend rate to the current dividend rate applicable to the term for their certificate. Future rate changes may be requested every 365 days after the last rate change on their account. Rate change must be initiated by the member, either in writing or by phone. Member’s Choice Certificates are not available as jumbo certificates.
Must have online banking username and PIN/password to open a certificate online.
*APY=Annual Percentage Yield
Are you ready to join the credit union that puts you first? Become a member of the Redstone family and you’ll start enjoying the great rates, personalized financial advice, and excellent customer service Redstone is known for.