Ignite Savings is for everyone
Ignite Savings is a high-yield savings account, which means it pays significantly higher interest than a regular savings account. How much higher? When you open an Ignite Savings account with OCCU, you’ll earn 5.25% APY on the first $500 you deposit.4
That’s nine times higher than the national average savings account interest rate of 0.57%.
But the earnings don’t stop there. You’ll also accumulate higher-than-average interest on the rest of your balance. To give you an idea of how fast your money can grow in an Ignite Savings account, let’s say you deposit $3,000. In the first year alone, you’ll earn more than $90 in interest.
Member tip: Check out our Ignite Savings calculator if you’d like to get a better picture of how this exceptional account could fit into your financial picture.
One of the things that makes Ignite Savings so unique is that it’s accessible to everyone. Most high-yield savings accounts require you to maintain a large balance to earn the highest interest rates, which means the more you already have, the more you can earn.
But with an Ignite Savings account, we flipped the traditional model on its head.
With no minimum balance or deposit required, you’ll start earning the highest available interest rate right from the get-go — whether you deposit $50 or $5,000. It doesn’t matter how much income you have or how much money you’re able to save each month; you’ll always get our VIP interest rate. And unlike many other high-yield accounts, your cash always stays easily accessible so it’s readily available whenever you need it.
Anyone can open an Ignite Savings account. Are you a longtime OCCU member? Start raking in your free money today. Just hearing about us for the first time? Open an Ignite Savings account online and we’ll welcome you to the OCCU community within minutes.
Primary & secondary savings: Back to the basics
As an OCCU member, you have a primary savings account. It may only have $5, but you have it. And if you’ve got your Ignite account cooking and want to have more accessible savings accounts but don’t want to worry about minimum balances, then maybe it’s time to put it to use!
Primary and secondary accounts have no minimum balance and no limits on the number of accounts you open. You can open an account for every savings goal, and watch your balance grow. So dream big, dream often and start saving!
Money market magic
What’s better than one high-yield account? Two!
Every OCCU member has the ability to open one Ignite Savings account and take advantage of the incredible rate that comes with it. But what if you want to do more? Then a money market account may be right for you.
A money market account works much like a traditional savings account. You deposit your money and your financial institution pays interest on your balance based on current market rates.
The main difference between the two is that money market accounts offer a higher yield than savings accounts and typically require a minimum balance. An OCCU money market account for example, has a $500 minimum balance and you can now earn up to 0.50% APY5 on your entire savings balance.
But while some financial institutions limit your monthly transactions, OCCU allows unlimited in-person access to your money, which means you can withdraw your funds whenever you need them. That’s why our money market accounts work especially well for shorter-term savings goals.
No matter who you are or how much money you have, we’ve got savings account with your name on it. Free money is yours for the taking – that’s the credit union difference in action; we create more ways to invest in you.
