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Expect the Unexpected: Why an Emergency Fund Matters

Every financial story has a few plot twists when life throws something unexpected your way. A flat tire. A medical bill. A surprise home repair. Even the best plans can be tested when the unexpected happens. 

The honest truth is it’s not if something pops up, it’s when. Emergencies are a part of everyday life. The difference between stress and confidence often comes down to one thing: being prepared. 

That’s where an emergency fund comes in. 

Your Emergency Fund: A Small Step with a Big Impact 

Think of an emergency fund as your financial safety net. It doesn’t have to be large to make a meaningful difference. Even a modest amount, like $500, can help you avoid relying on credit cards, pulling from other savings goals, or feeling overwhelmed when expenses arise. 

That first $500 is a milestone worth celebrating. From there, you can build toward one month of living expenses, and eventually three to six months. Each deposit, no matter the size, helps strengthen both your savings and your peace of mind. 

Start Where You Are 

You don’t have to build your entire safety net overnight. 

Start with what works for you. Setting aside $10 or $20 from each paycheck adds over time, especially when you make it automatic or put it into an interest-bearing savings product, like our Boost Certificate.  

You can open a Boost Certificate with as little as $100, add to it anytime, and watch it grow with a higher dividend rate.  

By setting up recurring transfers to a dedicated savings account or Boost Certificate, you take the guesswork (and temptation) out of saving and make steady progress without thinking twice. 

Small, consistent steps today can mean fewer worries and greater confidence tomorrow. 

Take a Moment to Check In 

If you already have an emergency fund, now’s a great time for a quick check-in: 

  • Has your goal changed due to new expenses or life changes? 
  • Could you increase your automatic transfer, even slightly? 
  • Is your emergency fund easy to access, but separate from everyday spending? 

If you’re just getting started, that’s okay too. Choose a realistic first goal, designate an account specifically for emergencies, and take that first step. 

Because while we can’t predict life’s surprises, we can plan for them. 

Your Next Step 

  1. Review your emergency fund goal, or set one today 
  2. Automate your savings to keep it simple and consistent 
  3. Explore helpful tools and resources at the America Saves Resource Center 
  4. Take the America Saves Pledge for motivation, guidance, and support along the way 

Life’s surprises may be unavoidable but facing them unprepared doesn’t have to be. By building an emergency fund, you’re not just saving money, you’re giving yourself stability, confidence, and breathing room when it matters most.

At Central One, we’re here to support you every step of the way, because stronger members mean a stronger community. Your future self will thank you for the steps you take today.

We’d Love to Hear From You 

Has your emergency fund helped you handle an unexpected expense, or simply given you peace of mind? Share your story with America Saves Week! 

If your story is selected, they’ll thank you with a $50 gift card.

Your experience could inspire someone else to take their first step toward financial stability. 

 

 

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Adjustable Rate Mortgages

  • The 15/5 Adjustable Rate Mortgage offers a fixed APR of for the first 15 years then adjusts to a new rate every 5 years.

    Term: Available for terms up to 40 years.

    Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.

    Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.

    Calculate your monthly payment using the ARM Mortgage Calculator

    Prior to applying, please make sure your credit is not frozen by the credit reporting agencies, or we will not be able to process your application. Payments do not include taxes and insurance. 

    Begin the Application Process Check Rates

  • The 15/5 Adjustable Rate Mortgage offers a fixed APR of for the first 15 years then adjusts to a new rate every 5 years.

    Term: Available for terms up to 40 years.

    Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.

    Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.

    Calculate your monthly payment using the ARM Mortgage Calculator

    Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application. Payments do not include taxes and insurance. 

     

    Begin the Application Process Check Rates

  • The 10/5 Adjustable Rate Mortgage offers a fixed APR of for the first 10 years then adjusts to a new rate every 5 years.

    Term: Available for terms up to 30 years.

    Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.

    Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.

    Calculate your monthly payment using the ARM Mortgage Calculator

    Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application. Payments do not include taxes and insurance. 

     

    Begin the Application Process Check Rates

  • The 10/5 Adjustable Rate Mortgage offers a fixed APR of for the first 10 years then adjusts to a new rate every 5 years.

     

    Term: Available for terms up to 30 years.

    Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.

    Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30-year fixed rate.

     

    Calculate your monthly payment using the ARM Mortgage Calculator

    Prior to applying, please make sure your credit is not frozen by the credit reporting agencies, or we will not be able to process your application.

     

    Begin the Application Process Check Rates

  • The 5/1 Adjustable Rate Mortgage offers a fixed APR of for the first 5 years then adjusts to a new rate every 1 year.

     

    Term: Available for terms up to 30 years.

    Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.

    Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30-year fixed rate.

     

    Calculate your monthly payment using the ARM Mortgage Calculator

    Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.

     

    Begin the Application Process Check Rates

  • The 5/1 Adjustable Rate Mortgage offers a fixed APR of for the first 5 years then adjusts to a new rate every 1 year.

     

    Term: Available for terms up to 30 years.

    Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.

    Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.

     

    Calculate your monthly payment using the ARM Mortgage Calculator

    Prior to applying, please make sure your credit is not frozen by the credit reporting agencies, or we will not be able to process your application.

     

    Begin the Application Process Check Rates

  • The 3/3 Adjustable Rate Mortgage offers a fixed APR of for the first 3 years then adjusts to a new rate every 3 years.

     

    Term: Available for terms up to 30 years.

    Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.

    Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.

     

    Calculate your monthly payment using the ARM Mortgage Calculator

    Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.

     

    Begin the Application Process Check Rates

  • The 3/3 Adjustable Rate Mortgage offers a fixed APR of for the first 3 years then adjusts to a new rate every 3 years.

     

    Term: Available for terms up to 30 years.

    Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.

    Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.

     

    Calculate your monthly payment using the ARM Mortgage Calculator

    Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.

     

    Begin the Application Process Check Rates

  • The 1/1 Adjustable Rate Mortgage offers a fixed APR of for the first 1 year then adjusts to a new rate every 1 year.

     

    Term: Available for terms up to 30 years.

    Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.

    Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30-year fixed rate.

     

    Calculate your monthly payment using the ARM Mortgage Calculator

    Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.

     

    Begin the Application Process Check Rates

  • The 1/1 Adjustable Rate Mortgage offers a fixed APR of for the first 1 year then adjusts to a new rate every 1 year.

     

    Term: Available for terms up to 30 years.

    Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.

    Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.

     

    Calculate your monthly payment using the ARM Mortgage Calculator

    Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.

     

    Begin the Application Process Check Rates

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