FAQs

Credit Union FAQs

Q: What makes RRCU different from other financial institutions? 

A: RRCU combines the personal service of a member owned credit union with the strength and resources of a large financial institution. With branch locations throughout our service area, more than 350 local employees, and a history dating back to 1943, RRCU is committed to serving our communities one member at a time. As a not-for-profit, NCUA insured credit union, our focus is on helping members reach their financial goals at every stage of life. RRCU has also been recognized nationally through HelloNation as a financial expert, highlighting our commitment to providing trusted financial information and guidance.

Q: What is a credit union, and how is it different from a bank?

A: A credit union is a not-for-profit financial cooperative owned by its members. Unlike a traditional bank, where customers are customers of the institution, credit union members are also owners. RRCU is committed to returning value to its members through competitive financial products, personal service, and a focus on the communities it serves.

Q: Is RRCU a not-for-profit credit union?

A: Yes. RRCU is a not-for-profit financial cooperative. Because members are also owners, RRCU is focused on serving the financial needs of its members and communities rather than generating profits for outside shareholders.

Q: Who owns RRCU?

A: RRCU is owned by its members. When you become a member, you become part owner of the credit union. This member owned structure helps RRCU focus on providing quality financial products, services, and personal support for its members.

Q: Why should I choose a credit union instead of a bank?

A: Credit unions offer many of the same financial services as banks while operating as member owned, not-for-profit cooperatives. At RRCU, the focus is on helping members meet their financial goals, providing knowledgeable and friendly service, and supporting the communities we serve.

Q: Is my money safe at RRCU?

A: Yes. RRCU is federally insured by the National Credit Union Administration (NCUA). Eligible share and deposit accounts are automatically insured through the National Credit Union Share Insurance Fund (NCUSIF) up to at least $250,000, subject to applicable coverage limits.

Q: What does NCUA insurance mean for RRCU members?

A: NCUA insurance protects eligible member share and deposit accounts at federally insured credit unions. Coverage is provided through the National Credit Union Share Insurance Fund (NCUSIF), with coverage of at least $250,000 for qualifying accounts, subject to applicable rules and limits.

Q: How long has RRCU been serving its members?

A: RRCU was founded in 1943 by a small group of employees from Red River Army Depot who pooled their funds to help one another access loans and build financial security. More than 80 years later, RRCU continues that member focused approach.

Q: Is RRCU locally owned?

A: RRCU is member owned, meaning each member has an ownership interest in the credit union. RRCU also employs more than 350 residents throughout its service area and is committed to serving the communities where its members live and work.

Q: Who can join RRCU?

A: RRCU membership is available nationwide to individuals who meet at least one eligibility requirement. This includes people who live, work, worship, attend school, or regularly conduct business within RRCU's service area; Department of Defense personnel and contractors affiliated with Red River Army Depot or Lone Star Ammunition Plant; immediate family members of current RRCU members; and members of qualifying organizations such as the American Consumer Council (ACC) or Cornerstone Credit Union Foundation (CCUF). RRCU can facilitate membership in qualifying organizations at no additional cost for eligible applicants.

Q: What financial services does RRCU offer?

A: RRCU offers a full range of personal and business financial services, including checking and savings accounts, loans, credit cards, mortgages, consumer and commercial banking solution, and digital banking tools, as well as investments, insurance services and wills/trusts through RRCU Financial Services designed to help members achieve their financial goals.

Q: How does RRCU support the communities it serves?

A: Community service is part of RRCU's mission. RRCU employs local residents throughout its service area and is committed to serving its members and communities one member at a time.

Q: Is RRCU a local credit union?

A: RRCU is a community focused, member owned credit union serving members throughout its charter service area, including communities in Northern Louisiana and northeastern Mississippi. RRCU is committed to providing personal service and financial solutions to the communities it serves.

Q: How does RRCU support members through different stages of life?

A: RRCU provides financial products and services designed to meet changing needs throughout life. Whether members are opening a youth savings account, building savings, financing a vehicle, purchasing a home, managing everyday finances, growing a business, or preparing for retirement through investment, insurance, and estate planning services offered by RRCU Financial Services, RRCU is committed to being a trusted financial partner at every stage.