Karl Keating stated in his book Catholicism and Fundamentalism that we are all “redeemed” but we are not all “saved.” What is the difference between the two?
Basically, redemption is collective, while salvation is individual. Christ redeemed humanity collectively from slavery to sin and from the debt of punishment that mankind, as a whole, owed due to sin. Every person, Christian or non-Christian, is redeemed because he is a member of the human race. Salvation is the application of redemption to individuals. A person can choose to reject the graces won for him by Christ even though he has been redeemed