Randolph-Brooks Federal Credit Union (RBFCU) is a financial institution based out of texas. It was founded over 60 years ago and currently has more than 55 branches over the Texas area. RBFCU employs more than 2,000 people and originally started as a military credit union. It has since expanded its banking products to a wider clientele. 

As is the case with most credit unions, you must first apply for membership before you can make an account. You can apply for membership if you live in one of the Texas areas serviced by the union or you are part of a third-party organization that has been accepted by the union. Once you are accepted as a member, you can start to open checking accounts, savings accounts, and start using the bank’s financial services. 

RBFCU offers solid CD rates with good returns and terms across the board. The lowest option CDs start at 0.50% APY  for 6 months. Options for CDs go all the way up to 1.21% for 84 months. All standard CDs for RBFCU have an initial $1,000 deposit. All accounts also have early withdrawal penalties. The penalties depend on what kind of certificate you have and for how long you held it. For every 11 months of the agreement, you must pay an additional month of interest when you withdraw. 

So for example, for a 6-11 month certificate, you would have to pay 30 days worth of simple interest on what you withdraw. If you have an 84-month certificate, you would have to pay 7 months (420 days) of interest. The highest time frame they offer is 7 months which means that the most you will have to pay is 7 months of simple interest on the withdrawn amount. 

There are several ways to qualify for membership with RBFCU. Common ways to qualify for membership include your employer, place of worship, community organization, neighborhood or school. You may also qualify through immediate family members who are part of the credit union (spouse, children, parents, siblings, stepchildren, adopted relatives, etc.). You can complete a short online application to see if you qualify for membership.

Further, each CD is broken into 4 levels, depending on how much you deposit. However, the interest APY for each level is the same regardless of how much the balance is. That means that a person putting in $10,000 will be the same as a person putting in $75,000. That might initially sound like a disincentive, but RBFCUs rates are so good it really does not matter too much. 

Compared to other competitors CD rates, RBFCU fares very highly. It has a lot of varied CD options and has some of the better rates that you will run into. Most impressive are the starting rates which start at 0.50% for a 6-month certificate, which is much higher than most competitors. 

In addition to the standard CD, RBFCU also offers jumbo CD rates for larger minimum deposits. These CDs work largely the same as the standard account but have slightly better rates and higher account minimum deposits. 

In short, RBFCU has some great options to choose from and would make a solid choice for practically anyone in any stage of their financial journey through life. RBFCU has good rates and also is favored among their clients because of their good customer support.