 RBCU offers a wide array of savings and
deposit accounts. Browse your options below.
It all begins with the Membership Share Account. To become
a member or business member of RBCU requires that you open a Membership Share Account.
This savings account is a $25 requirement. Simply view it as your investment
in the credit union movement. With it, you become a part-owner of the credit
union and are eligible to enjoy any and all of the other products and services
RBCU offers.
This particular account is kept “untouchable” and its presence
represents your credit union membership. In addition, it earns quarterly dividends.
If your membership with
the credit union is terminated, the “membership” funds in your
Membership Share Account are returned to you.
You can’t put a price on the security you gain by regularly saving money.
Year after year, RBCU Share Savings account dividend rates are among the very
best. This makes it easy to help provide financial security for you and your
family.
 The foundation of any credit union is the Share Savings account. Many members
reach savings goals by opening multiple savings accounts, often naming and using
each one for a specific purpose such as, "Holidays," or "Vacation
Fund." Every Share Savings account you open earns RBCU’s competitive
dividends paid quarterly based on the credit union’s earnings. There is
no minimum balance required.
If you have more money to deposit, and
are looking for a great dividend rate, think money market accounts. These accounts
typically earn a market dividend rate that is higher than our regular Share Savings
account. A minimum of $5,000 is required to open a Money Market account.
Share Certificates are a secure way to invest in your future. We offer Share
Certificates in terms ranging from 6 months to 7 years. A minimum deposit of
$500 is required to open a share certificate. The interest rate in effect when
the certificate is opened is guaranteed until maturity. Interest is paid quarterly,
based upon the date of opening your certificate and this money may then be paid
to you by check, added to the certificate, or credited to any other RBCU savings
or checking account. View today’s available terms and rates. Contact us
if you’d like to discuss the best option for you.
RBCU offers a wide range of U.S. Savings Bond services, including purchasing,
conversion, and redemption.
We offer our members Traditional and Roth IRA options, as well as Coverdell Education
Savings Accounts. You can set-up your "plan" as either IRA Share Savings
accounts or as IRA Share Certificates, depending on your needs. Additionally,
we can help you move funds from IRAs at other institutions and from qualified
retirement plans, such as former employer’s 401(k), to an IRA. Under some
circumstances, you may also wish to convert a Traditional IRA to a Roth IRA.
Ask a member service
representative for informative packets on IRAs and Coverdell Education Savings
Accounts.
These popular accounts are a terrific way to prepare for your retirement or the
costs of a child’s secondary education. An individual may contribute up
to the federally mandated maximum amount. RBCU offers two savings "paths" within
the IRA plan:
IRA Share Savings Account – A savings account within your IRA plan that
requires no minimum balance and earns a competitive, variable dividend rate.
This is a flexible account option. It is a great place for those of you requiring
more time to research your available options, or for those required to have an
approved place to move funds from a former employer’s retirement plan.
IRA
Share Certificates – A minimum balance of $500 is required to
open a certificate and you may purchase them with terms from one to seven years.
The interest rate is determined by the amount of the deposit and the term of
the certificate. This rate is locked in on the date of purchase and is guaranteed
until maturity. Funds withdrawn prior to maturity may be subject to an early
withdrawal penalty.
IRA Conversions and Rollovers – We can help you move funds from IRAs
at other institutions and from qualified retirement plans, such as former employer’s
401 (k), to an IRA. Under some circumstances, you may also wish to convert a
Traditional IRA to a Roth IRA.
Traditional IRAs – contributions may be tax-deductible
and the earnings grow tax deferred until they are withdrawn. Funds may also be
withdrawn without penalty for a variety of qualified reasons.
Roth IRAs - These
are composed of non-deductible contributions; earnings are tax-free and penalty
free after five years if withdrawals are made for qualified reasons.
Coverdell
Education Savings Account – Formerly known as an Education
IRA, this is a savings account used to save for a child’s higher education.
Earnings are tax-free when used for qualified educational expenses.
*Funds withdrawn
early from an IRA or Coverdell account may also be subject to Federal withdrawal
penalties. To decide which type of account and contribution limits might be best
for your specific financial situation, talk with a tax advisor that you trust.
When you are ready to contribute, contact RBCU.
If you are interested in learning more about IRAs, ask a member service representative
for informative packets on IRAs and Coverdell Education Savings Accounts from
The CUNA Mutual Group.
SEP plans were created to allow self-employed persons, sole proprietorships, partnerships, small businesses, small employee groups and corporations to provide retirement plans via an easily established and maintained retirement program. They are a great alternative to establishing a complex retirement plan. If this interests you, get in touch with our Member Service Department right away.
 The National
Credit Union Administration (NCUA), an agency of the United States government,
insures all credit union deposit accounts, up to $100,000 per member. Each member's
Individual Retirement Account (IRA) is additionally insured for up to $250,000. |
To
open an account, please call us at (800) 967-7228 or visit your nearest
