Redstone Federal Credit Union High Interest Rates

Redstone Federal Credit Union is a versatile credit union which has faced many challenges successfully and has always held its mission higher of providing the best service to its members. It was chartered on November 28, 1951. At that time it had only eleven members with assets totaling just $55. But today it is proud to have become the largest credit union in the state of Alabama and ranks in the top 40 credit unions in the United States. Now it is serving over 284,000 members with over 2 billion in assets. It believes that it was able to achieve all this just by providing exceptional financial services to its members.

It is providing good facilities on Money Market Share Accounts. Money Market Account holders can get exclusively designed 3 money market checks for free, whereas other check designs can also be availed for a small fee of $20.

It requires a minimum 2,000 to open this account and you can start earning dividends with a balance starting at $2,000.

You can earn dividends at 4 tiers. The four tiers to earn dividends are:
Dividend Level 1 $2,000 – $4,999.99
Dividend Level 2 $5,000 – $49,999.99
Dividend Level 3 $50,000 – $99,999.99
Dividend Level 4 $100,000 and above

With a minimum average daily balance of $2,000 to $4,999.99 you can earn a dividend rate of 2.81% with APY of 2.85%.
With a minimum average daily balance of $5,000 to $49,999.99 you can earn a dividend rate of 3.25% with APY of 3.30%.
With a minimum average daily balance of $50,000 to $99,999.99 you can earn a dividend rate of 3.69% with APY of 3.75%.
With a minimum average daily balance of $100,000 and above you can earn a dividend rate of 4.17% with APY of 4.25%.

*The above rates are noted as on 9th January, 2008 and may change without notice.

Dividends are paid monthly. It is important to note that no dividends will be earned for the time period when your daily balance falls below $2,000. Your savings are federally insured to at least $100,000 by United States government agency, NCUA.