As banks around the state and country begin charging consumers more fees, RBCU remains dedicated to providing its members fewer fees, lower loan rates and higher savings rates. RBCU is a viable financial alternative for consumers seeking a financial institution that is committed to putting their needs first.

Over the past few weeks, many banks have begun to implement new fees to replace revenue lost due to the enactment of a provision in the Dodd-Frank Wall Street Reform & Consumer Protection Act, which lowers the cap on the interchange fee that financial institutions cull when consumers swipe their debit cards. This means that many consumers could be facing higher fees for banking products and services and may even lose their free checking. However, RBCU continues to put members first by offering competitive rates and services

Besides its savings account options, RBCU offers a variety of services, including Free Online Banking, Free Checking, Free Debit Cards, a full range of mortgage loans, and Visa credit cards. In addition, they keep fees low on all of their products. Along with lower fees, credit unions, on average, offer lower interest rates on auto loans and credit cards.

The most recent statistics from the Credit Union National Association and the FDIC show that Minnesota credit unions’ average auto loan interest rate is 4.40 percent, compared to state banks at 6.31 percent. Additionally, credit unions have an average rate of 11.24 percent for credit cards, compared to 12.62 percent at banks. RBCU offers its members a rate as low as 4.50% on auto loans and as low as 9.90% percent for credit cards.

“Because of our cooperative business model, all the credit union’s earnings are returned to members in the form of lower loan rates and higher interest rates on deposits,” said Pat Brekken, President of RBCU. “We remain committed to putting our members’ needs first, ahead of making a profit.”

Many consumers are already making the switch from higher banking fees. The Credit Union National Association (CUNA) and the National Association of Federal Credit Unions (NAFCU) have reported that credit unions nationwide are seeing an uptick in consumer inquiries and account openings. Both organizations’ online credit union locators also saw a surge in traffic after Bank of America’s announcement that they would be charging consumers $5 a month to use their debit card.

To learn more about RBCU and the potential benefits it has to offer you, visit one of three branches, online at rbcu.org or in person at

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