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
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+.
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.
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.
Share Certificates
Choose a term to fit your timetable, and earn some of our highest rates. A Share Certificate provides steady, guaranteed growth for your regular savings or your IRA.
Special 7-Month and 20-Month Certificate Offers!
Looking for a certificate with a longer term and higher rate, which provides steady guaranteed growth? Look no further and click below for more information!
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.
Individual Retirement Accounts (IRAs)
An IRA is a tax-advantaged account* with valuable and unique benefits for your
long-term goals. Contributions can be deposited into an IRA Share account, IRA Jumbo Money Market Account or an IRA Certificate. See Deposit Rates for a rate and term which best suits your needs.
Charter Oak offers several different types of IRAs:
Traditional IRAs offer an immediate tax benefit for qualified taxpayers, since contributions may be fully or partially deductible. The money in your Traditional IRA (including earnings) is generally not taxed until you make a withdrawal.
Roth IRAs do not offer a deduction for your contributions. However, as long as you follow the IRS requirements, you may never have to pay tax on your earnings. Early withdrawals are allowed under certain conditions.
SEP IRAs provide an easy way for employers and self-employed individuals to set up a retirement account, with higher contribution levels than Traditional or Roth IRAs in many cases.
*Please consult your tax advisor.
To learn more please call our Contact Center at 860.446.8085 or toll free at 800.962.3237, or stop by any Charter Oak branch.
ENJOY THESE GREAT OFFERS
EARN 1.50% APY* ON OUR HSA ACCOUNT
*APY = Annual Percentage Yield Effective November 1, 2020
AUTO LOAN RATES AS LOW AS 2.74% APR**
**APR = Annual Percentage Rate Effective November 1, 2020
EARN 3.00% APY* ON GO CHECKING
*APY = Annual Percentage Yield Effective November 1, 2020
ACCELERATOR MORTGAGE AS LOW AS 2.79%/2.85% APR**
**APR = Annual Percentage Rate Effective November 1, 2020