Savings Accounts

Savings Terms

• $25 minimum balance to open
• $200 minimum balance to earn dividends
• No fees if requirements are met; $5 fee if the balance falls below $200 at any time during the month and you have no other services
• Competitive dividends paid quarterly (rate depends on balance)
• Easy account access
  • ATM card available
  • CO-OP Shared Branches
  • Oklahoma Central Branch Locations
• Six free withdrawals per month
• Savings accounts, combined with your other Oklahoma Central accounts, are insured up to $250,000 by the National Credit Union Administration and an additional $250,000 by Excess Share Insurance - Learn more about Account Insurance.

OPEN ACCOUNTCompare Savings Accounts

Compare Savings Accounts

Because everyone needs a way to save money and get a return, Oklahoma Central offers the convenience of many different account types. Use the chart below to find what will work best for you.

Money Market Accounts

The Money Market Account allows you to earn a higher rate of interest with access to your funds at any time without a penalty. It requires a higher opening balance, however; deposits may be made at any time.

• $2,000 minimum deposit to open
• $2,000 minimum balance to earn dividends
• Minimum balance fee of $10 if daily balance drops below $2,000
• Six free withdrawals per month
• Dividends compounded and paid monthly
• Accounts are insured up to $250,000 by the National Credit Union Administration and an additional $250,000 by Excess Share Insurance - Learn more about Account Insurance.

Current Rates

The Investor Money Market Account allows you to earn a higher rate of interest with access to your funds at any time without a penalty. It requires a high opening balance, however; deposits may be made at any time.

• $50,000 minimum deposit to open
• $50,000 minimum balance to earn dividends
• Minimum balance fee of $10 if daily balance drops below $50,000
• Six free withdrawals per month
• Dividends compounded and paid monthly
• Accounts are insured up to $250,000 by the National Credit Union Administration and an additional $250,000 by Excess Share Insurance - Learn more about Account Insurance.
• Current rates: 1.75% APY*

To open a Money Market Account, stop by any branch location.

*APY - Annual Percentage Yield effective 11/01/24. Dividend rate may change after account open. Stated rates subject to change. Dividends are compounded monthly. $2,000.00 minimum balance to open Money Market account and earn APY. $50,000.00 minimum balance to open Investor Money Market account and earn APY. Fees could reduce the earnings on the account. Membership conditions may apply.

Certificate Accounts 

Checking and savings accounts are what we use to spend and manage our money, but neither does much to make your money grow. Consider a certificate account if you have at least $1,000 or more that you won’t need for a set amount of time. A certificate is a great way to earn a better-guaranteed return on your money.

Current Rates

Features include:

• $1,000 minimum to open
• $1,000 minimum balance to maintain
• Deposits are only allowed at time of opening and maturity
• Dividends are paid monthly
• Automatic renewal (Certificate will automatically renew at maturity for the same term with the new rate available at time of renewal if no instructions are given. 3-month, 5-month, 10-month, 15-month, 20-month, 25-month, and 30-month promotional certificates will renew to a certificate account at the next higher term than your current promotional certificate term.)
• Penalty for early withdrawal
• Accounts are insured up to $250,000 by the National Credit Union Administration and an additional $250,000 by Excess Share Insurance - Learn more about Account Insurance.

To open a Certificate Account, stop by any branch location

Compare Savings Accounts

*APY - Annual Percentage Yield effective 12/20/2024 and is in effect for the initial term of the Certificate. Dividends are compounded monthly, from day of deposit to the day of maturity or withdrawal. $1,000.00 minimum balance to open certificate account and earn APY. Accounts will automatically renew to a Certificate account at the same term as your Promotional Certificate term. However, 3-Month, 5-Month, 10-Month, 15-Month, 20-Month, 25-Month, and 30-Month Promotional Certificates will renew to a Certificate account at the next higher term than your current Promotional Certificate term. Penalties may be imposed for early withdrawal. APY assumes dividends remain in the Certificate until maturity. Membership conditions may apply.

Traditional IRAs

A Traditional IRA is used to supplement your retirement needs. This plan offers tax-deferred earnings and the possibility for tax-deductible contributions.  A non-working spouse may contribute as long as they are filing jointly with a spouse who has earned income equal to or more than the contribution. The owner must have earned income for the year that the contribution is being made. All Traditional IRAs have a savings account attached to them.

• $250 savings or $1,000 certificate minimum deposit to open.
• Contributions are limited by IRS annual limits. Contribution limits are combined with the Roth IRA.
• Deposits are allowed at any time.
• Dividends paid monthly at a fixed rate.
• The contribution deadline for a given year is April 15th of the following year.
• An owner may make an IRA withdrawal, also called a distribution, at any time. The age of the owner and the reason for the withdrawal determines the tax consequences for taking the distribution.
• IRA certificates will automatically renew at maturity for the same term with the new rate available at time of renewal, if no other instructions are given by member.
• Accounts are insured up to $250,000 by the National Credit Union Administration and an additional $250,000 by Excess Share Insurance - Learn more about Account Insurance.

LEARN MORE ABOUT TRADITIONAL IRA

Roth IRA

A Roth IRA is a savings plan used to supplement your retirement needs. Contributions are not tax-deductible. However, earnings can be withdrawn tax-free as long as they conform to the plan provisions. All Roth IRAs have a savings account attached to them.

• $250 savings or $1,000 certificate minimum deposit to open
• Contributions are limited by IRS annual limits. Contribution limits are combined with the Traditional IRA.
• Deposits are allowed at any time
• Dividends paid monthly at a fixed rate for the length of the term
• The contribution deadline for a given year is April 15th of the following year.
• An owner may make an IRA withdrawal, also called a distribution, at any time. The age of the owner and the reason for the withdrawal determines the tax consequences for taking the distribution.
• Roth IRA certificates will automatically renew at maturity for the same term with the new rate available at time of renewal, if no other instructions are given by member.
• Accounts are insured up to $250,000 by the National Credit Union Administration and an additional $250,000 by Excess Share Insurance - Learn more about Account Insurance.

LEARN MORE ABOUT ROTH IRA

Coverdell Education Savings Account

A Coverdell Education Savings Account is a type of tax-advantaged savings plan that was created for the sole purpose of helping to pay for a child's education expenses. Contributions are not tax-deductible. However, earnings can be withdrawn tax-free as long as it is used for the education of a child.

• $250 savings minimum deposit to open
• Contributions are limited by IRS annual limits.
• Deposits are allowed at any time
• Dividends paid monthly
• The contribution deadline for a given year is April 15th of the following year.
• As long as the earnings are withdrawn before the child's (designated beneficiary) 30th birthday, and are used for qualified educational expenses, they are tax-free. Withdrawals of earnings (interest) are charged a 10% early distribution tax and subject to ordinary income tax if the withdrawal is not used for qualified educational expenses. See current IRS guidelines for penalties.
• Accounts are insured up to $250,000 by the National Credit Union Administration and an additional $250,000 by Excess Share Insurance - Learn more about Account Insurance.

Learn more about Coverdell ESA

To open an IRA, stop by any branch location.

COMPARE retirement Accounts Explore more about retirement accounts

Traditional IRAs - *Annual Percentage Yields (APY) are effective as of 10/01/24 and are as follows: Under $200 – 0.00% APY, $200.00 - $19,999.99 – 0.40% APY, $20,000.00 - $39,999.99 – 0.50% APY, and $40,000.00 and over – 0.65% APY.

Roth IRAs - *Annual Percentage Yields (APY) are effective as of 10/01/24 and are as follows: Under $200 – 0.00% APY, $200.00 - $19,999.99 – 0.40% APY, $20,000.00 – $39,999.99 – 0.50% APY and $40,000.00 and over –0.65% APY.

Coverdell ESAs - *Coverdell Annual Percentage Yields (APY) are effective as of 10/01/24 and are as follows: $250 and over – 0.40% APY.