Savings, Money Market & IRA Accounts | Charter Oak Federal Credit Union

Smart Choices for Savings

All of our Savings Programs Provide:

Competitive rates
24-hour access via Online Banking, Mobile Banking or Info-Phone
Are Federally Insured by the NCUA

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ROTH IRA E-Brochure

TRADITIONAL IRA E-BROCHURE

Accumulator Money Market e-brochure

Bright Future e-brochure

Savings e-brochure

READ OUR FUNDS AVAILABILITY POLICY

Regular Shares

Our Regular Share Account establishes your Charter Oak membership and provides a solid foundation for your financial portfolio. This simple, flexible account allows unlimited deposits and withdrawals.

Bright Future Savings Account

A savings account for young adults to earn a higher yield for a “bright future.” Member must be between the ages of 14-28 to open a Bright Future Savings Account⁺.

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⁺The Bright Future Savings Account is a “Split Rate Tiered” account. The account is a variable rate account and rates can change at any time. This account may only be opened by members between the ages of 14-28. After reaching the age of 29, account will remain open at the discretion of the account holder. This offer can be withdrawn at any time. No minimum to open. Limit of one Bright Future Account per Social Security number.

Jumbo Money Market Account

You can earn even higher rates while enjoying easy access to your money. Jumbo Money Market Accounts have no maximum limit and are available for personal, IRA or business accounts.

Accumulator Money Market Account

Make your savings work smarter! We’ve taken the great rates and protections of a money market account and made them even more accessible.

Learn more about the Accumulator Money Market Account

Club Accounts

Want to save for a special purpose such as holiday shopping or a special vacation? A Club Account lets you work towards your goal gradually. We can set up automatic transfers to make the process easier.

Health Savings Accounts (HSAs)

HSAs are an innovative way to manage health care costs, combining a High Deductible Health Plan (HDHP) with a tax-advantaged medical savings account and a high rate!

If you make the contributions yourself, you can claim a tax deduction.* The earnings are tax-free, and distributions may be tax-free if used for qualifying medical expenses. The funds in the account are carried over from year to year, and your HSA stays with you if you change employers or leave the work force.

*Please consult with your tax advisor.

LEARN MORE ABOUT Health Savings Accounts

ENJOY THESE GREAT OFFERS

**EARN 1.50% APY* ON OUR HSA ACCOUNT**

*APY = Annual Percentage Yield

AUTO LOAN RATES AS LOW AS 5.49% APR**

**APR = Annual Percentage Rate

**EARN 3.00% APY* ON GO CHECKING**

*APY = Annual Percentage Yield

ACCELERATOR MORTGAGE AS LOW AS 4.74%/4.80% APR**

**APR = Annual Percentage Rate

Rates effective March 20, 2023

Savings (Share Accounts)

Product	Balance	APY*
Regular Shares	> $0	0.05%
Bright Future Savings⁺	> $0.01-$2,000 > $2,000	3.00% 0.25%
IRA Shares (Individual Retirement Accounts)	> $0	0.05%
Club Accounts (Holiday and Vacation)	> $0	0.05%
HSA (Health Savings Accounts)	> $0	1.50%
Jumbo Money Market Account Regular or IRA	$0.01 – $9,999.99 $10,000.00 – $49,999.99 $50,000.00 – $99,999.99 >= $100,000.00	0.05% 0.10% 0.20% 0.30%
Accumulator Money Market Account⁺⁺ Accumulator Default Rate (if account conditions are not met)	$0.01 – $2,000.00 $2,000.01 – $6,000.00 $6,000.01 – $10,000.00 > $10,000.00 All Balances	2.50% 1.50% 0.50% 0.05% 0.05%

⁺ The Bright Future Savings Account is a “Split Rate Tiered” account. You will earn the stated APY (Annual Percentage Yield) only for the account balance within each tier. 3.00% APY is paid on balances up to $2,000.00. Balances over $2,000.00 earn 0.25% APY. The account is a variable rate account and rates can change at any time. This account may only be opened by members between the ages of 14 and 28. After reaching the age of 29, account will remain open at the discretion of the account holder. APY effective April 1, 2020. This offer can be withdrawn at any time. No minimum to open. Limit of one Bright Future Savings Account per Social Security number.

⁺⁺(APY = Annual Percentage Yield). The Accumulator Money Market Account is a split rate tiered account and will earn the stated APY only for the account balance within each tier.To earn the stated APYs, you must have a GO Checking or SUN Checking Account with a month end balance of at least $100. Failure to meet this requirement will cause the account to earn the “Default APY” of 0.05% across all tiers. (Please visit CharterOak.org or call 860.446.8085 for GO Checking and SUN Checking Account information.) Limit of one Accumulator Money Market Account per Social Security or Tax Identification Number. APY effective June 1, 2020. The Accumulator Money Market Account is a variable rate account and the rates can change at any time.