Prime Rate Change

On March 15, the Fed made a decision to raise the federal funds rate. Changes in the federal funds rate dictate changes in The Wall Street Journal Prime Rate, which increased from 3.75% to 4.00%

Our Premier Rate, Cashback Rewards and Business Select Mastercard® credit cards are tied to the Prime Rate and as a result, the annual percentage rate is subject to change when this rate changes. On April 1, 2017, the rate on these cards will increase. The chart below displays the change in rates.

Premier Rate CashBack Rewards and
Business Select
Prior APR New APR
(As of April 1,2017)
8.20% 8.45%
10.20% 10.45%
13.20% 13.45%
17.20% 17.45%
Prior APR New APR
(As of April 1,2017)
10.40% 10.65%
12.40% 12.65%
14.40% 14.65%
18.00% 18.00%*

*The Annual Percentage Rate is currently capped by regulation at 18.00% (the new non-capped rate would be 18.65%).
RBFCU reserves the right to increase the maximum interest rate if permitted by law or regulation.


While our home equity loan rates will not change, our HELOC (home equity line of credit) rates are tied to The Wall Street Journal's Prime Rate. These rates will adjust from 3.25% APR to 3.50% effective April 1, 2017.