Oregon Federal Credit Union

Oregon Federal offers a wide range of short and long term savings options because everyone's needs are different. Whether you are saving for retirement, a child's education or holiday shopping, there is a savings or investment option that is tailored to fit your lifestyle. You can be assured you will be getting what you deserve with our flexible rates and terms. As a member-owned credit union, we pass the savings on to you in the form of higher dividend rates.

Regular Savings — Your membership begins when you open a Regular Share (savings) account. You become a shareholder (member-owner) of the Credit Union, therefore our savings accounts are called "share accounts." Open your Regular Share Account with a minimum deposit of $1, which represents your membership. Once your Regular Savings Account is open, you are eligible to apply for other credit union products and services. Dividends are calculated on the average daily balance, then compounded and paid quarterly as long as a minimum savings balance of $100 is maintained.

Merchant Account — This type of payment processing merchant account, with a minimum transaction volume of $2,000, earns a higher dividend rate than Regular Shares. Withdrawals must be in amounts of $500 or greater. There are no withdrawal penalties. For those of you who are serious savers, a Merchant Account allows convenient access to your account with higher earnings. Dividends are calculated on the average daily balance, then compounded and paid monthly.

Certificates — To meet the investment needs of our members and maximize the return on large savings balances, Oregon Federal offers a variety of certificates with terms ranging from 90 days to five years. Certificates require a minimum deposit as low as $1000. Certificates pay a fixed rate of interest for the length of the term. Dividends are calculated daily, then compounded and paid monthly.

IRA Certificates (Roth and Traditional) — An IRA (Individual Retirement Account) is a safe, sound way to save for retirement. In many cases, members are able to make tax-deductible contributions (deposits) to an IRA. Consult your tax advisor to see if you qualify. In addition to regular IRA contributions, any qualified pension plan "paid out" by an employer may be rolled over into an IRA account. The dividends earned on an IRA are tax deferred. Dividends earned on the Roth IRA may be tax free (please consult your tax advisor to see if you qualify). Terms range from one to five years with a minimum balance of $1000. Dividends are calculated daily, then compounded and paid monthly.

To access account information 24 hours a day, seven days a week call CLARA , our automated telephone teller, or log on to our free Internet Banking service.