Check presentation Newberry (right) presents a check for $3 million to officials of the Alabama School of Cyber Technology and Engineering.

When the NCUA approved Charitable Donation Accounts, Redstone Federal Credit Union saw them as another avenue for giving back to our communities and as an embodiment of Redstone’s guiding principle to “Be a Catalyst for Positive Change in Our Community.”

Charitable Donation Accounts are combination investment accounts that also generate funds for charitable giving. The accounts must contribute at least 51% of their gains to qualified 501(c)(3)s within a specific time period.

Redstone has used these accounts to facilitate donations to various public, non-profit endeavors that provide lasting benefits to the entire community. However, sometimes those sponsorships are met with questions from members, such as “Why didn’t you use that money to pay me more interest?” Or, “How will this donation affect my dividends?”

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