Save money for special purchases
Open a separate savings account for special purchases that won't use funds from your regular or emergency accounts.
Estimate your savings
Final Balance
Contributions: | Earnings:-
1
Apply online
It takes just minutes. If you aren’t already a Member, have your Social Security number and driver’s license or ID card handy.
-
2
Deposit money
Move money into your new account so you can start using it.
-
3
Manage your money online
Easily manage your money with online and mobile banking.
Build Your Own Savings
Save for purchases without drawing from your regular or emergency savings
Open a separate savings account, so you can save for special purchases even faster without impacting your rainy day fund.
Your hard-earned money is safe
-
Rated one of 21 strongest credit unions in the US by Weiss Ratings in 2021
-
Rated 4th healthiest credit union in the US by Glatt Consulting HealthScore in 2020
I have been banking with Redwood Credit Union for 26 years. I have always been happy with RCU and would never think of changing banks."
Have a question?
At RCU, we're known for our reliable service, and we'll answer your questions and calls quickly.
Save money for special purchases
Launch your savings plan with a separate savings account so that you can save for special purchases without committing to funds from the rest of your monthly budget.
Rates
All Highlights
Save for anything
No matter your need or want, use a Build Your Own Savings account to save up for special purchases without taking from your regular or emergency savings.
$5 minimum balance to open
Saving toward your goals doesn’t have to cost a fortune. You can open a Build Your Own Savings account with just $5.
No monthly service charge
A savings account is supposed to help you save, not cost you more. We never add monthly service charges, so you can save more money toward your goals.
Earn dividends on your savings
Let your money earn you more money. Start earning dividends with as little as $100 in your account.
Dividend rates increase with higher balances
The more money you save, the more you earn. Dividend rates increase as you save, so you can reach your financial goals even faster.
Dividends compounded and paid quarterly
Make your money work as hard as you do. Reach financial goals even quicker with dividends compounded and paid on a quarterly basis.
PPP Forgiveness Application Deadline
Congress passed The Economic Aid Act which changed the deferment period from 6 months post covered period to 10 months post covered period. For example, if your covered period ended June 30, 2021, under the new guidelines the earliest your first loan payment wouldn’t be due until April 2022, and you have until then to request forgiveness. Please use the following calculation to help you identify when your forgiveness will be due:
- PPP borrowers may select a covered period anywhere from 8 weeks to 24 weeks.
- RCU is automatically calculating your loan due date based on a 24-week covered period, if you intend on using a shorter covered period please inform us immediately as this will impact your due date.
- Your correct deadline will be reflected in your online banking account.
If all or part of your PPP loan is not forgiven, your first loan payment will be due the first of the following month after a decision is made by the SBA.
Leaving Our Website
You are leaving our website and linking to an alternative website not operated by us. Redwood Credit Union does not endorse or guarantee the products, information, or recommendations provided by third-party vendors or third-party linked sites.