Redstone Federal Credit Union, a federally chartered credit union, provides personal and commercial financial products and services in the United States. It was founded in 1951 and is based in Huntsville, Albama.
With internet banking services offered by Redstone Federal Credit Union, you don’t have to go queuing in the bank to get some cash to pay your bills. You can carry out a transaction from the comfort or your home or anywhere around the globe provided you have enrolled for the internet banking services and you have internet connection. There many things that you can do with you online account that we will be mentioning later one. Let’s first look at how to login, how to reset password and how to register.
How to login
Once you have created an online account with Redstone Federal Credit Union, you can login anytime. The bank has an easy to use interface that enables customers to even login using their mobile phones. Here are the steps to follow to login:
Step 1-Open your web browser and go to https://www.redfcu.org/
Step 2-Enter your username and password and click “login”
Forgot your password?
If you have forgotten your password, you can reset it anytime as long as you have your login ID. The bank will need your login ID to verify that you are indeed an account holder with the bank. Follow this step by step guide to change your password:
Step 1-Click “reset your password” on the Homepage
Step 2-Enter your phone number and username and click “send me a new password”
The website will generate a new password and send you via email
How to enroll
Enrolling only takes a few minutes and customers can have access to their online accounts from anywhere. You will be required to provide a few details about your bank account to prove that you indeed have an account with the bank. Follow these steps to enroll:
Step 1-Click “sign up for personal online banking”
Step 2-Fill in the details carefully and click “complete sign up”
Manage your Redstone Federal Credit Union online account
Here are a few advantages of having an online account with the bank:
- Pay your bills
- Manage bank account
- Transfer funds to other accounts
- Enjoy a safe and secure platform
Redstone Federal Credit Union Review
Redstone Federal Credit Union was founded in 1951 when the U.S government granted the credit union their charter. The credit union was started originally with 11 investors and assets amounting to $55. The amount was stored in a shoebox.
The first branch was located on Redstone Arsenal; therefore, they only served employees who worked at Redstone Arsenal. Redstone Federal Credit Union today is headquartered in Huntsville, Alabama, and services more than 50 locations in Alabama.
Redstone Federal Credit Union has expanded to become the largest credit union in Alabama and the twenty-fifth largest in the United States.
Since then the credit union has expanded the eligibility requirements. For you to become a member, you will have to make an initial deposit of $5. Redstone Federal Credit Union prides in playing a key role in the success of their members.
Their goal is to improve the financial well-being of the communities and members by offering opportunities, advice, choices, and solutions. The credit union’s core values are excellence, respect, soundness, and integrity.
Redstone Federal Credit Union offer services and products that include checking and savings accounts, investments and insurance services, and business services for sole proprietorships. The credit union offers its members real estate department, which includes home equity loan equity loans and mortgage products.
- Several accounts
There are currently five different checking accounts offered by Redstone Federal Credit Union. The accounts come with a unique set of benefits that range from free basic accounts with zero balance requirements to large accounts that allow for a 250 dollars line of credit simply for overdraft protection.
The credit union has two savings accounts that their members can choose from. The first one of basic account, which a member can personalize and the other earns dividends with an interest rate of 0.18% that compounds daily and usually paid quarterly.
In addition, the credit union offers a Member’s Choice share certificates which help their members to earn higher dividends.
Members with certificates have the option if the APY goes higher than when the certificates was opened originally, they will be allowed to change it. The rate can be changed any time after the first 90 days and once every year.
The terms offered range from 6 months of 5 years and required a minimum opening balance of $1000. The credit union offers two different types of share certificates that members can choose from to suit their lifestyle.
Depending on how you want to use your dividends, you can choose a non-compounding certificate and have access to compound certificate or dividends and wait for your dividends to mature.
- Mobile apps
Redstone Federal Credit Union has also developed app for Android and Apple devices. These apps have an excellent 4.5 stars out of 5.
Users have given positive feedback about how easy it is to access their bank accounts and use all the tools to check balances and make deposits
Redstone Federal Credit Union has a number of downsides that customers should beware of. Some of these downsides are not much of a big deal whereas other might be serious for some people
- Fewer locations
Redstone Federal Credit Union seems to be located only in Alabama, but they claim members from all over the world. Although the credit union has expanded its eligibility requirements, seems like most businesses that take part are only located in Alabama
- Little dividend benefits
Redstone Federal Credit Union offers five checking accounts, but they all don’t offer any kind of dividend benefits. And 4 out of 5 accounts will accumulate a monthly fee of $5 to $8 per month when certain requirements are not met every month.
The credit union’s savings rates at 0.18% are lower considering the fact that most savings accounts have rates of 0.20%.
Redstone Federal Credit Union has amazing apps for their members and they also offer amazing benefits with checking accounts. But with lack of dividends for checking accounts, average to below rates for share certificates and savings makes them fall a little shorter.
However, despite all, Redstone Federal Credit Union is one of the best credit unions in Alabama that you can become a member. It will also give you the hometown feel.