RWCU Savings
Share & Club Accounts
These accounts make it easy to save toward special goals.
Certificates of Deposit
CDs are a great way to save at a higher interest rate!
IRAs
If you don’t already have an IRA, now is the time to start!
Current Rates
Share & Club Accounts
When you join Red Wing Credit Union, you are required to set up a Share Account with a minimum of $25. This interest-earning account reflects your ownership share in the credit union.
Club Accounts act like a spare change jar – except they earn interest! You can automatically transfer a small amount each pay period into a Club Account and build a nest egg for your holiday shopping or for your dream vacation.
The Christmas Club is our most popular Club Account; other types include Escrow and Vacation. You can even create and name your own Club Account that’s just right for you.
All savings accounts earn dividends on a daily basis and are paid monthly. This gives you the highest yield possible on your investment.

Money Market Account
Want a high-dividend rate without a long-term commitment? Try a Money Market Account. You can make unlimited deposits, and up to three withdrawals or cleared checks each month, all with a minimum balance of $2500.00.
Certificates of Deposit
CDs offer a higher earning potential than a savings account. Unlike stocks and other investment options, a CD is guaranteed and insured.
CD Stacking
One drawback to certificates of deposit is the penalties for early withdrawal. A way to avoid this and optimize your earnings and keep funds available is to “stack” your CDs. Instead of buying one 12-month certificate, buy three certificates for 6, 12, and 18 months. Then your money will be freed up every six months. As your CDs come due you can re-invest them in longer-term, higher-earning funds,
Call 651-388-7133 or 1-888-388-7133 (toll-free) to open a CD today!
If you don’t already have an Individual Retirement Account (IRA), now is a great time to start.
The National Credit Union Administration (NCUA), the government agency that insures federally insured credit unions, recently raised the insurance coverage on all deposit and retirement accounts, such as IRAs, up to $250,000.
And with an IRA certificate at the Red Wing Credit Union, you can upgrade the rate one time within the term of the certificate, should rates go up.
And now, IRAs may come in handy before retirement!
You may now qualify for penalty-free withdrawals for:
*Higher education – Tuition, fees, books, supplies, and room and board … for you, your spouse, your children or grandchildren.
*Purchase of a home – Down payment, building, rebuilding, financing, settlement, or closing costs … for you, your spouse, one of your children, a grandchild, or a parent.
With higher contribution limits, more federal insurance coverage, the opportunity to upgrade to a higher rate, and the penalty-free withdrawal options available, what more reason do you need to open an IRA?
Life gets busy. Retirement comes up fast. The sooner you start contributing, the better your retirement will be.

Deposit Rates
APY is Annual Percentage Yield. Rates accurate as of November 1, 2023.
Rate |
APY |
|||
Share Savings |
0.45% |
0.45% |
||
Club Account |
0.45% |
0.45% |
||
Variable IRA Club Accounts |
0.45% |
0.45% |
||
Checking Accounts Choice Checking Golden Checking (Ages 55+) Premier Checking ($500 Min Bal) |
0.25% 0.25% 0.30% |
0.25% 0.25% 0.30% |
||
Certificates of Deposits & IRA CDs ($500 |
||||
3 Months |
1.00% |
1.01% |
||
6 Months |
1.00% |
1.01% |
||
11 Months |
5.00% |
5.11% |
||
12 Months |
1.50% |
1.51% |
||
24 Months |
1.50% |
1.51% |
||
36 Months |
1.75% |
1.76% |
||
48 Months |
2.00% |
2.02% |
||
60 Months |
2.50% |
2.52% |
||
Money Market Accounts |
||||
$2,500 – $24,999 |
1.50% |
1.51% |
||
$25,000 – $49,999 |
1.75% |
1.76% |
||
$50,000 – $99,999 |
2.05% |
2.07% |
||
$100,000-$249,999 |
2.20% |
2.22% |
||
$250,000 & UP |
2.50% |
2.52% |
Help Red Wing Credit Union Grow
On average, credit union member households in the U.S. save about $159 a year. If you love banking at Red Wing Credit Union, spread the word! Refer a friend or family member to RWCU for a checking account or a loan to earn some cash.
We're a member-owned financial institution right here in Red Wing, Minnesota. Our focus is on people, not on profit.
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