Skip Navigation

Documents in Portable Document Format (PDF) require Adobe Acrobat Reader 5.0 or higher to view. Download Adobe© Acrobat Reader.

Savings and Certificates


Whether you're saving for retirement or a rainy day, you'll find an account designed to meet your unique needs.

Tell us what you're looking for:


Regular Share Savings

Our most-popular savings product. Regular Share Savings is a simple savings product to help your money grow. No minimums, no annual fee, just simple savings.

Learn More

Become a Member

or Call 800-527-1017


Maxi Mutual Fund Account

Earn a higher rate than our Regular Share Account but have more access to your funds than a typical investment product.

Learn More

Become a Member

or Call 800-527-1017


Oakie Super Saver Club

Designed for children under 12 years old, the Oakie Super Savers Club is a great way to teach your child about saving.

Features

  • Receive the Tree Top Times newsletter with child-appropriate financial education and fun games
  • Personalized birthday card from Oakie the Squirrel
  • Earn a competitive interest rate
  • Dividends compound quarterly

Requirements

  • Minimum deposit of $5 in Owner Voting Share account
  • Available for children under the age of 12
  • Parent or guardian as a joint owner on the account


Become a Member

or Call 800-527-1017


Future Focus Home Savings Plan

Does buying a home seem like a far-away dream? That dream is more affordable than you may think! The Future Focus Home Savings Plan provides a pathway to home ownership and rewards you with higher yields and a cash reward for planning ahead.

Learn more about the Future Focus program and discounts on your first credit card and first auto loan.

Features

  • Earn an additional 1% APY on the money you save for the home purchase
  • When buying your first home, Central One will reward you with 1% of the mortgage amount back to cover closings costs! ‡‡
Meaning, if your mortgage is for $180,000 then Central One will give you up to $1,800 to cover closing costs.


Requirements

  • Deposit $100 or more per month into the savings plan for 18 months prior to buying a home
  • Qualify as a first time home buyer
  • Finance with an Adjustable Rate Mortgage from Central One Federal Credit Union
  • Meet the general Future Focus Program requirements


Future Focus Program Requirements

  • Minimum deposit of $5 in Owner Voting Share account
  • All Central One accounts in good standing
  • First-time borrower for the product
  • Open a Share Draft Checking Account
  • Direct Deposit of at least $500/month
  • Enroll in eStatements
  • Enroll in Online or Mobile Banking
  • Deposit $100 or more per month into the savings plan for 18 months prior to buying a home
  • Finance with an Adjustable Rate Mortgage from Central One Federal Credit Union

Become a Member

or Call 800-527-1017

‡Annual Percentage Yield. Premium rate based upon Central One’s Regular Share Account plus 1%. 

‡‡Central One will reward up to 1% of the mortgage amount or the total sum of closing costs, whichever is lesser.  

Savings and Money Market Accounts (Share and Maxi) Disclosure: Dividend rates are accurate as of the last dividend declaration date. All savings and money market accounts are considered variable rate accounts and rates are subject to change at any time without notice.  Accrued dividends are forfeited if account is closed prior to monthly dividend posting. Fees or other conditions may reduce earning on the account .   Refer to Central One Federal Credit Union's  Truth-In-Savings Disclosure  and  Schedule of Fees.




Certificates

Enjoy peace-of-mind knowing you've made a safe investment. A Certificate Share is the credit union version of a CD. Whether your goal is to save for retirement or build your investment portfolio, Central One certificates are the perfect way to save and earn more.

All certificates at Central One are federally insured by the NCUA.


Senior Sense Premium Certificate

For members who are retired, 60 years of age or older and receiving either social security or a pension, the Senior Sense Premium Certificate provides a higher return than our regular certificates.

Current Senior Sense Rates

Certificate Term Dividend Rate APY^
6 Month 0.847 % 0.85 %
1 Year 1.144 % 1.15 %
2 Year 1.49 % 1.50 %
3 Year 1.736 % 1.75 %
5 Year 2.325 % 2.35 %

Features

  • Premium interest rate, often well above the national CD average
  • Choice of terms (6-month, 1-year, 2-year, 3-year and 5-year)
  • Can borrow against the certificate with a secured loan
  • Dividends compound monthly
  • Choose to have dividends transferred monthly to any of your accounts or paid to you by check
  • Federally insured by the NCUA

Requirements

  • Minimum deposit of $5 in Owner Voting Share account
  • Minimum balance of $10,000
  • Enrolled in Senior Sense Checking
  • Meet the Senior Sense Checking eligibility requirements
  • Subject to early withdrawal penalties*

Become a Member

or Call 800-527-1017

Regular Certificate

Our most popular certificate, these CD alternatives provide competitive yields without some of the limitations found in other certificates.

Current Certificate Rates

Certificate Term Dividend Rate APY^
6 Month 0.598 % 0.60 %
1 Year 0.896 % 0.90 %
2 Year 1.243 % 1.25 %
3 Year 1.49 % 1.50 %
5 Year 2.08 % 2.10 %

Features

  • Choice of terms (6-month, 1-year, 2-year, 3-year and 5-year)
  • Competitive interest rates, often well above the national CD average
  • Can borrow against the certificate with a secured loan
  • Dividends compound monthly
  • Choose to have dividends transferred monthly to any of your accounts or paid to you by check
  • Federally insured by the NCUA

Requirements

  • Minimum deposit of $5 in Owner Voting Share account
  • Minimum balance of $1,000
  • Subject to early withdrawal penalties*


Become a Member

or Call 800-527-1017

Future Investor Premium Certificate

For members 17 years or younger, the Future Investor Certificate provides a premium interest rate. As joint owners, parents or guardians can help track the progress and set savings goals.

Current Future Investor Rates

Certificate Term Dividend Rate APY^
1 Year 1.144 % 1.15 %
2 Year 1.49 % 1.50 %

Features

  • Premium interest rate, often well above the national CD average
  • Choice of terms (1-year or 2-year)
  • Dividends compound monthly
  • Choose to have dividends transferred monthly to any of your accounts or paid to you by check
  • Automatic renewals
  • Federally insured by the NCUA

Requirements

  • Minimum deposit of $5 in Owner Voting Share account
  • Minimum balance of $100
  • Joint account with a parent or guardian (must be a credit union member)
  • Additional deposits must be made in $100 increments
  • Subject to early withdrawal penalties*


Become a Member

or Call 800-527-1017



IRA Certificate


Make your retirement dreams a reality with these saving opportunities.

Traditional IRA Certificate

Putting money into a Traditional IRA can defer taxes on your earnings. IRA funds are insured separately from other deposits by the NCUA.

Current Certificate Rates

Certificate Term Dividend Rate APY^
6 Month 0.598 % 0.60 %
1 Year 0.896 % 0.90 %
2 Year 1.243 % 1.25 %
3 Year 1.49 % 1.50 %
5 Year 2.08 % 2.10 %

Features

  • Earnings grow tax-deferred until they are withdrawn
  • Contributions may be tax deductible
  • IRA owners aged 50 and over can make "catch up" contributions of up to $1,000 making their total allowable contribution $6,500 per year
  • Anyone who has received a distribution from a qualified retirement plan can move the proceeds of the qualified plan into a Traditional IRA
  • Contributions can be made via Direct Deposit to an IRA Share Savings account as frequently as you wish
  • Competitive interest rates

Requirements**

  • Minimum deposit of $5 in Owner Voting Share account
  • Minimum balance of $1,000
  • Under the age of 70 ½
  • Must have earned income or be "married filing jointly" with a spouse receiving income
  • Limit of $5,500 per year or 100% of earned income, whichever is less
  • Prior to age 59 ½ there may be an IRS penalty for early distribution


Become a Member

or Call 800-527-1017

Roth IRA Certificate

Putting money into a Roth IRA allows you to take eligible distributions tax free. IRA funds are insured separately from other deposits by the NCUA.

Current Certificate Rates

Certificate Term Dividend Rate APY^
6 Month 0.598 % 0.60 %
1 Year 0.896 % 0.90 %
2 Year 1.243 % 1.25 %
3 Year 1.49 % 1.50 %
5 Year 2.08 % 2.10 %

Features

  • Contribute up to $5,500 per year if you earn compensation that is less than the defined limits set by Congress
  • IRA owners aged 50 and over can make "catch up" contributions of up to $1,000 making their total allowable contribution $6,500
  • Contributions can be made weekly or monthly via Direct Deposit to an IRA account
  • Competitive interest rate
  • Contributions are not tax deductible

Requirements**

  • Minimum deposit of $5 in Owner Voting Share account
  • Minimum balance of $1,000
  • Earn compensation that is less than the defined limits set by Congress
  • Under the age of 70 ½
  • Must have earned income or be "married filing jointly" with a spouse receiving income
  • Limit of $5,500 per year or 100% of earned income, whichever is less
  • Prior to age 59 ½ there may be an IRS penalty for early distribution


Become a Member

or Call 800-527-1017


Coverdell Education Savings Account (CESA)


A CESA is a trust account designed to save for your child's education expenses. Earnings accumulate on a tax-deferred basis and can be withdrawn tax-free if used to pay for qualified education expenses.

Features

  • Earnings accumulate on a tax-deferred basis
  • Withdrawals are tax-free if used for qualified education expenses
  • Available for use at public, private, or religious elementary or secondary schools
  • Available for use at an eligible higher education institution
  • Contributions are not tax deductible

Requirements

  • Minimum deposit of $5 in Owner Voting Share account
  • Minimum balance of $1,000
  • Child under 18 at time of account opening
  • Contributions:
    • Cannot be made after the beneficiary reaches age 18 (unless the beneficiary is a "special needs" beneficiary)
    • Cannot exceed $2,000 per year per beneficiary
    • See IRS.gov for additional rules and requirements


Become a Member

or Call 800-527-1017


Club Savings


Don't let the holidays or vacation time stress you out. By saving now you can enjoy time with your family instead of worrying about finances.

Holiday Club

Save for the holidays with this interest-bearing account and avoid costly interest associated with credit cards.

Features

  • Deposit money at any branch, using your mobile phone 1 or by direct deposit
  • Withdrawals can be made at any time, in any amount
  • No minimum balance
  • Access to account through online banking, mobile banking, telephone banking or in branch
  • Transfer funds to your checking account or request a check
  • Interest-bearing with a competitive dividend


Become a Member

or Call 800-527-1017

Vacation Club

Make that dream vacation a reality. Set a goal and start saving with this interest-bearing account!

Features

  • Deposit money at any branch, using your mobile phone 1 or by direct deposit
  • Withdrawals can be made at any time, in any amount
  • No minimum balance
  • Access to account through online banking, mobile banking, telephone banking or in branch
  • Transfer funds to your checking account or request a check
  • Interest-bearing with a competitive dividend


Become a Member

or Call 800-527-1017


^APY = Annual Percentage Yield

* Certificate Share Disclosure:
All certificate rates are fixed for the length of the term. A penalty may be imposed for withdrawals before maturity. If your account has an original maturity of one year or less, the penalty will equal three months dividends on the amount withdrawn subject to penalty. If your account has an original maturity of more than one year the penalty will equal six months dividends on the amount withdrawn subject to penalty. The penalty is calculated as a forfeiture of part of the dividends that have been or would be earned on the account. It applies whether or not the dividends have been earned. If the account has not yet earned enough dividends or if the dividend has already been paid, the penalty will be deducted from the principal. In certain circumstances such as the death or incompetence of an owner of this account, the law permits or may require the waiver of the early withdrawal penalty. Other exceptions may also apply; for example, if the certificate is part of an IRA or other tax-deferred savings plan.

** IRA Disclosure:
Distributions may be taken after age 59 ½ without an IRS penalty and are mandatory after age 70 ½. There are special circumstances in which you withdraw funds without an IRS penalty. There may be a credit union penalty if the withdrawal breaks the term of the certificate.

Unlike many employer-sponsored retirement plans in which access to assets might be limited until the participant has a change of employment or reaches retirement age, access to IRA assets is guaranteed, always. Most Traditional IRA distributions taken before the IRA owner reaches age 59 ½ are subject to a 10 percent early distribution penalty tax. This is to discourage people from taking Traditional IRA distributions at an early age rather than keeping the assets for retirement. The 10 percent early distribution penalty tax does not apply in the following situations:

  • Age 59½
  • Death
  • Disability
  • Certain medical expenses
  • Health insurance premiums following unemployment
  • First home buyer expenses
  • Higher education expenses
  • IRS levy
  • Series of substantially equal periodic payments
  • Qualified reservists distributions

IRS Publication 590, Individual Retirement Arrangements (IRAs), provides more detail on these penalty tax exceptions.

Traditional IRA funds become reportable income after distribution; please consult your tax professional.