8The regular certificate account and jumbo certificate account annual percentage yields (APY) & rates are current as of 04/01/2024. There is a minimum balance requirement of $500 to open the regular certificate account and earn the APY. There is a minimum balance requirement of $100,000 to open the jumbo certificate account and earn the APY. Early withdrawal penalties may apply. Fees could reduce earnings.
Setting short-term savings goals makes good financial sense
OCCU -
01.23.2024
You know the importance of saving for the future. Retirement, education, emergency funds … all those things you know you’ll need way down the road.
But what about your short-term goals? The new car you’ll need soon. The vacation you want to take next summer. The wedding you’re planning.
Once you see these things on the horizon, you know you need to get to work. You’re saving for a good time, not a long time.
And an OCCU CD special can help. Our 7-month CD comes with a rate of 4.75% APY9 and you can earn 4.50% APY9 on a 13-month certificate. Choose the terms that fit your goals and keep your money safe and growing until you’re ready for it.
Planning ahead by saving for important events is more important than ever if you want to avoid having to settle for less. Consider these savings scenarios:
Vacation
Vacations are never cheap, averaging around $3,609 for a family of four — and that’s just for travel, hotel and meals. But you can still give your family a five-star getaway if you start saving for it now. By putting away money for the next 18 to 24 months, you’ll be able to plan a vacation your family will always remember.
Wedding
You’ll spend less time worrying about “sticker shock” and more time planning for the big day if you start adding to the wedding fund now. The average wedding in 2023 was $30,000. If you have your sights set on a ceremony and reception rather than a trip to the courthouse, you’ll want to start saving once the question is popped.
New vehicle
You can put the fun and excitement back into new-car shopping by setting up a savings plan ahead of time. According to Kelley Blue Book, the average transaction price of a new car or truck sold in the United States is $48,334. And used cars, while significantly cheaper on average — $26,510 — still will cost you. So before taking out a big loan, give yourself a financial break by taking advantage of one of our CD specials where your savings will earn higher interest.
Short-term savings goals make great financial sense. For more information, check out our Personal Certificate Accounts page.
