Savings Accounts
Whether you’re putting away your first dollar or managing a sizable retirement portfolio, an OUCU savings account offers a practical way to turn dreams into reality. Choose the savings account that’s right for you, or create your very own Special Share Savings account.
Compare Savings Accounts
| Feature |
Regular Share Savings |
Money Max Savings Account |
Share Certificates |
| Annual Percentage Yield (APY) |
Earns .05% |
View Rates |
View Rates |
| Who Should Open |
All Members: Required for OUCU membership |
Perfect for savers with higher balances |
Savers who want guaranteed returns and won't need the money right away. |
| Monthly Service Fee |
None |
None |
None |
| Minimum Balance |
$5 maintains your membership |
None |
$500 |
| Dividends |
Compounded & credited quarterly |
Compounded & credited monthly |
Compounded and credited quarterly. |
| Minimum to Open |
$5 - your "share" in the credit union |
None |
$500 |
| Automatic Transfers |
$1 each to cover non-sufficient funds in your checking account |
$1 each to cover non-sufficient funds in your checking account |
No |
| Withdrawal/Transfer Limits |
Unlimited |
Unlimited |
Yes |
Why Open a Specialty Savings Account
Saving for something special? Start here! OUCU makes it easy to plan ahead for major expenses such as holiday celebrations, special vacations, or personal savings goals.
- Invest as little or as much as you can
- Watch your savings grow as you continue to make contributions and earn dividends
- Plan ahead and avoid credit card debt
- $5 minimum balance required
- No monthly maintenance fee
- Set up online banking during business hours
- Make it easy to save with automatic deposits
Christmas Club: Start saving in advance and be ready when the holidays roll around.
Vacation Club: Make that dreamed-of getaway a guilt-free reality by saving up in advance.
Special Share Savings: Set up dedicated accounts for specific savings goals. You can even change the account name to “Wedding Savings” or whatever you choose.
Your Funds are Federally Insured
Your savings and certificates are insured up to $500,000. The first $250,000 is federally insured by the National Credit Union Administration (NCUA). Your next $250,000 is insured by Excess Share Insurance, the nation's largest private deposit insurer.
Fees could reduce earnings.
Terms and Conditions
Credit Union Savings Account FAQs
How do I choose the right savings account for my financial goals?
OUCU offers a range of savings products designed for different types of savings goals.
- Our Regular Share Savings Account is a great place to start your savings journey, allowing you to contribute money as and when you are able, and to access your deposit instantly should you need the cash.
- Our Money Max fee-free savings account is ideal if you have a comfortable nest egg you want to grow. With tiered dividend rates, you’ll earn progressively higher rates as your balance grows—and your money remains accessible.
- Our Share Certificates allow you to invest money for a set period, generally paying a higher rate in return for leaving your money untouched for the agreed term. A certificate is a good way to save for a major goal like a wedding, a car, or a home down payment.
- OUCU also offers specialty savings accounts. These work much like our Regular Share Savings Account and are designed to make it easier to set money aside for large expenses such as holiday celebrations or a family vacation. Our Special Share Savings Accounts even allow you to modify the name of your account to reflect your savings goal.
- Individual Retirement Accounts (IRAs) are special tax-advantaged accounts designed for long-term wealth accumulation to help you prepare for retirement.
How often are dividends paid on savings accounts?
Dividends on our Regular Share Savings Accounts and Share Certificates are compounded and credited to your account quarterly. Dividends on our Money Max Savings Accounts are compounded and credited monthly.
Can I open more than one savings account?
Yes, there is no limit to the number of savings accounts you can open. OUCCU’s Special Share Savings accounts allow you to allocate individual accounts for specific savings goals and even change your account’s name using the mobile app or online banking portal.
How do I set up automatic transfers into my savings account?
You can set up automatic transfers into your account using OUCU’s Mobile and Online Banking service. This is a great way to make saving automatic rather than having to set aside money manually every month. Follow these steps:
- Log in to OUCU online or mobile banking
- Go to Transfers or Move Money
- Select checking as the source and savings as the destination
- Enter the amount, frequency, and start date
- Review and confirm the recurring transfer
Are there any limitations on accessing my savings funds?
No. While many financial institutions continue to limit the number of withdrawal and transfer transactions that savings account holders can perform every month, OUCU offers unlimited access to funds saved in both our Regular Share and Money Max savings accounts.
What tools does OUCU offer to help me track or grow my savings?
OUCU offers a range of tools to help our members track and grow their savings. These include:
- Regular and tiered savings accounts that earn dividends over time
- Term-based Certificates that allow committed savings to grow faster
- Individual Retirement Accounts for long-term tax-advantaged savings
At the same time, our Mobile and Online Banking services make monitoring and managing your money easier than ever. We also offer various online calculators and financial planning tools to help you estimate growth and plan savings goals.
Can minors open a savings account at OUCU?
Yes. Teenagers aged 13-17 can open our Start Smart Teen Accounts with a parent or guardian as a joint owner. It’s a great way to help your child learn about financial discipline and the importance of saving.
What happens if my savings account balance drops below the minimum?
If your savings account balance falls below the minimum required deposit ($5 for OUCU’s Regular Share Savings account), then your credit union might charge you an additional fee or limit access to certain account benefits until the balance is restored.
Do I qualify to be an OUCU Financial member?
Membership is open to anyone who lives, works, worships, or goes to school in the following counties: Athens, Hocking, Fairfield, Perry, Morgan, Washington, Vinton, and Meigs. You also qualify for membership if you are an Ohio University or Hocking College active or retired employee, student, or graduate, or if you have a family member who is eligible for membership. If you’re an Ohio resident in a different county, you can qualify by first joining the American Consumer Council. View all membership qualifications here.
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