bank rates

Credit Union Increases Debit Rewards

Randolph-Brooks Federal Credit Union in Texas pays 15 cents per transaction.It was only a matter of time that some bank or credit union would take advantage of the big banks’ foolishness on checking and debit card fees.

Randolph-Brooks Federal Credit Union in San Antonio — which already paid its members for every debit card transaction — has increased its cash-back reward from 10 to 15 cents for every purchase made with a debit card, according to the Credit Union Times.

A credit union senior vice president told the publication the institution decided to offer the increase through Dec. 31 as a “thank you” to members after a record-growth year.

“Instead of upping our fees, we chose to increase rewards,” she said.

How refreshing.

It is local banks and credit unions like this that we hope more and more savers will turn to as the bigs try to squeeze more money from their customers.

This debit card promotion is available through Randolph-Brooks’ Really Free Checking Account ( After the end of the year, the reward will return to 10 cents.

You’re not going to get rich from this promotion, but it’s better than your bank taking money from you just for holding an account or using a debit card.

You must live or work in the Austin and San Antonio areas to be eligible to join this credit union and open a checking account.

Of course, we’ve mentioned Randolph-Brooks several times previously because of its impressive CD rates.

While its rates aren’t as good as they were even a couple of months ago, many of the terms are significantly better than the best nationally available deals on our CD Rates Leaderboard.

With a $1,000 minimum deposit, the credit union pays:

  • 1.92% APY on 36-month CDs.
  • 2.12% APY on 48-month CDs.
  • 2.63% APY on 60-month CDs.
  • 2.89% APY on 72-month CDs.
  • 3.20% APY on 84-month CDs.

Those rates are tiered based on minimum deposit. They increase at $5,000, $20,000 and $75,000. The best rate is 3.35% APY for a 7-year CD at $75,000.

If you can’t qualify for this credit union, find one near you using

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