Randolph-Brooks Federal Credit Union
Popular Accounts at this Credit Union
| APY | ACCOUNT TYPE | ACCOUNT NAME |
|---|---|---|
| 1.81% | 5-year CD | 60 - 71 Month CD 1.85% - Synchrony Bank 60 Month CD |
| 1.51% | 4-year CD | 48 - 59 Month CD |
| 1.46% | 3-year CD | 36 - 47 Month CD 1.55% - Ally Bank High Yield 3 Year CD |
Randolph-Brooks Federal Credit Union is headquartered in Live Oak and is the 2nd largest credit union in the state of Texas. It is also the 14th largest credit union in the nation. It was established in 1952 and as of June of 2016, it had grown to 1,618 employees and 657,097 members at 57 locations. Randolph-Brooks Federal Credit Union has an A+ health rating.
Field of Membership Restrictions
Membership in Randolph-Brooks Federal Credit Union is open to those who live or work at Randolph Air Force Base, eight underserved areas of San Antonio and Austin, Texas, and employees and associates of the select employer group.
See current membership details
Related Posts
8/22 - Possible expanded membership eligibility for Randolph-Brooks Federal Credit Union
8/8 - RBFCU Conversion On Labor Day Weekend 2014
10/13 - Rate Drop At Randolph-Brooks Federal Credit Union
8/11 - Randolph-Brooks Federal Credit Union Cuts Certificate Rates
6/3 - High CD Rates at Randolph-Brooks Credit Union in Texas - Local Only
2/4 - Randolph-Brooks Credit Union Rates Unchanged
10/10/10 - Top Long-Term CD and IRA CD Rates at Randolph-Brooks Credit Union in Texas - Local Only
7/12/10 - Competitive Long-Term CD and IRA CD Rates at Randolph-Brooks Credit Union in Texas - Local Only
1/27/06 - 5.12% 2-Year CD at a Texas CU
None Better
Best credit union in the state of Texas, and you can now do business with them in the D/FW area as well as San Antonio and Austin.
Had a breathtakingly superior mortgage experience recently with them on top of 40+ years of doing anything and everything I have needed,
Excellent service, good rates
I've had nothing but great experiences with Randolph-Brooks Federal Credit Union. The service has always been helpful, informative and, friendly. I've opened a savings account, checking account, and a money market. The dividends have been helpful in making ends meet. I definitely plan on sticking with RBFCU for as long as possible and will very likely use their services to take out loans when I decide to buy a large purchase. I definitely recommend investing there.
Check Reordering Process Poor
Attempting to utilize the RBFCU online check order program results in failure at the end of the process. An error message appears when submitting the order noting that the account number is too long. This is when the account number is automatically entered by the program. Calling customer service enables one to order checks but they can't provide the free checkbook cover with the RBFCU logo available online.
THE PENDING FEE GAME
Beware of ACH drafts, if you are a member of Randolph Brooks Federal Credit Union in the Central Texas metros of Austin & San Antonio. Worse than transactional ordering, this banking scheme plays on a hidden first in-first out (FIFO) running balance, anticipating customers will initiate electronic payments and make deposits at different times on a given banking day, capitalizing on the timing of both.
As stated on their website's Overdraft Protection page, "We pay all checks and debits on your checking account in order of arrival sequence throughout the day"
This practice is NOT in the bank member's best interest. Nor is this the practice of many large commercial banks. It is, however, a lucrative practice for RBFCU.
As an example, if an ACH draft presents itself to the bank at 1:10 PM and your deposit to cover the draft is processed at 1:15 PM, you will receive a $24 NSF fee, since your deposit was made five minutes after the ACH blipped on their screen. However, you, the bank member, won't see it as a posted transaction at 1:10 PM, on your online banking ledger. Most likely, it will appear as posted on the following banking day, or after 9 PM CST
Due to this nefarious and obscure transactional ordering policy, the credit union takes unfair advantage of its members' funds by intentionally refusing to clarify one daily posting/cut off time for deposits for all pending ACH or debit transactions.
However, this is not the case with all banks. One of the nation's largest commercial banks clearly states deposit cut off times for the banking day and does not assess any fees on pending items, only on overdrawn posted items that clear overnight. This superior system creates one single Ending Daily Balance that shows items that overdrew, after all deposits are accounted for, prior to the cut off time.
To avoid this unpleasant experience, what RBFCU wants its members to do is to enable Courtesy Pay to cover the Pending Item, thereby incurring a $24 fee, similar to an NSF fee. Unless funds can be drawn from another overdraft source, such as a savings account or credit line, the member will pay $24 in the form of an NSF or Courtesy Pay fee.
For all of the negative press the large commercial banks have received in recent years, it's become apparent that credit unions, like RBFCU, are really far more sinister in their fee practices, by refusing to create one cut off time for the day's deposits, to cover ALL pending or posted debit items.
Non-existent (or non-disclosed) deposit cut off times and invisible running balances, that do not update by the minute on a members online bank ledger, shadow RBFCU's true intent to collect fees, even when pending items do not truly overdraft, which would cause the use of bank funds, rather than a member's deposited funds.
Perhaps the NCUA needs to investigate this practice. If nothing else, our state legislators should be informed, if this loophole needs to be addressed as a part of fair practices required of state chartered banks, headquartered in TX, under the TX Finance Code.
http://www.statutes.legis.state.tx.us/Docs/FI/htm/FI.201.htm
Or, it might serve local journalists and reporters a story that should be brought to the public's attention, demanding reform of an abusive bank/credit union practice, in need of enforcement under existing consumer protection acts.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 8111 |
| Year Chartered | 1952 |
| Employees | 1618 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.95% |
| Return on Equity - YTD | 7.6% |
| Annual Interest Income | $111.5MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2016vs Q2 2015 | $7.33B$6.51B |
| Loans | Q2 2016vs Q2 2015 | $5.44B$4.72B |
| Deposits | Q2 2016vs Q2 2015 | $5.97B$5.36B |
| Equity Capital | Q2 2016vs Q2 2015 | $904.5MM$822.0MM |
| Loan Loss Allowance | Q2 2016vs Q2 2015 | $24.7MM$20.8MM |
| Unbacked Noncurrent Loans | Q2 2016vs Q2 2015 | $21.5MM$24.7MM |
| Real Estate Owned | Q2 2016vs Q2 2015 | $311.00K$521.00K |
Always verify rates and promotions with the bank or credit union. We are not Randolph-Brooks Federal Credit Union; we are a rate comparison website and cannot provide official rates or promotions.
* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
Randolph-Brooks Federal Credit Union Savings Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.40% | - | - | IRA Savings | |
| 0.25% | - | - | Savings |
Randolph-Brooks Federal Credit Union Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.40% | $2,500 | - | Money Market |
Randolph-Brooks Federal Credit Union Checking Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.05% | - | - | Really Free Checking |
Randolph-Brooks Federal Credit Union CD Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 2.07% | $1k | - | 84 Month CD | |
| 1.97% | $1k | - | 72 - 83 Month CD | |
| 1.81% | $1k | - | 60 - 71 Month CD | |
| 1.51% | $1k | - | 48 - 59 Month CD | |
| 1.46% | $1k | - | 36 - 47 Month CD | |
| 1.21% | $1k | - | 24 -35 Month CD | |
| 0.95% | $1k | - | 12 - 23 Month CD | |
| 0.55% | $1k | - | 6 - 11 Month CD |
Randolph-Brooks Federal Credit Union IRA Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 2.07% | $1k | - | 84 Month IRA | |
| 1.97% | $1k | - | 72 - 83 Month IRA | |
| 1.81% | $1k | - | 60 - 71 Month IRA | |
| 1.51% | $1k | - | 48 - 59 Month IRA | |
| 1.46% | $1k | - | 36 - 47 Month IRA | |
| 1.21% | $1k | - | 24 - 35 Month IRA | |
| 0.95% | $1k | - | 12 - 23 Month IRA | |
| 0.55% | $1k | - | 6 - 11 Month IRA |
Randolph-Brooks Federal Credit Union has 57 locations. Click to view all Randolph-Brooks Federal Credit Union locations.