Individual Retirement Account (IRA)
Rates
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Premium IRA Certificates
6 Month Dividend Rate
IRA Certificates
6 Month Dividend Rate
Premium IRA Certificate
Maximize your returns with a Premium IRA Certificate
IRA Certificate
IRA Certificate: secure and flexible
Coverdell Education Savings account
A Coverdell Education Savings account is a great way to plan ahead for your child’s education.
This special savings account allows your money to grow tax-deferred, and when it’s time to pay for qualified education expenses, the funds can be withdrawn tax-free. It’s a simple, smart way to invest in your child’s future.
Traditional IRA
Putting money into a Traditional IRA can defer taxes on your earnings. IRA funds are insured separately from other deposits by the NCUA.
Roth IRA
Putting money into a Roth IRA allows you to take eligible distributions tax free. IRA funds are insured separately from other deposits by the NCUA.
Get started securing your retirement!
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^APY = Annual Percentage Yield
* Certificate Disclosure:
All certificate rates are fixed for the length of the term. A penalty may be imposed for withdrawals before maturity. If your account has an original maturity of one year or less, the penalty will equal three months dividends on the amount withdrawn subject to penalty. If your account has an original maturity of more than one year the penalty will equal six months dividends on the amount withdrawn subject to penalty. The penalty is calculated as a forfeiture of part of the dividends that have been or would be earned on the account. It applies whether or not the dividends have been earned. If the account has not yet earned enough dividends or if the dividend has already been paid, the penalty will be deducted from the principal. In certain circumstances such as the death or incompetence of an owner of this account, the law permits or may require the waiver of the early withdrawal penalty. Other exceptions may also apply; for example, if the certificate is part of an IRA or other tax-deferred savings plan.IMPORTANT: Failure to maintain the requirements of the Premium Checking or Premium Certificate accounts may result in placement in a Regular or Regular Certificate account.
** IRA Disclosure:
Distributions may be taken after age 59 ½ without an IRS penalty and are mandatory after age 73. There are special circumstances in which you withdraw funds without an IRS penalty. There may be a credit union penalty if the withdrawal breaks the term of the certificate.Unlike many employer-sponsored retirement plans in which access to assets might be limited until the participant has a change of employment or reaches retirement age, access to IRA assets is guaranteed, always. Most Traditional IRA distributions taken before the IRA owner reaches age 59 ½ are subject to a 10 percent early distribution penalty tax. The 10 percent early distribution penalty tax does not apply in the following situations:
- Age 59½
- Death
- Disability
- Certain medical expenses
- Health insurance premiums following unemployment
- First home buyer expenses
- Higher education expenses
- IRS levy
- Series of substantially equal periodic payments
- Qualified reservists distributions
IRS Publication 590, Individual Retirement Arrangements (IRAs), provides more detail on these penalty tax exceptions.
Traditional IRA funds become reportable income after distribution; please consult your tax professional. Savings and Certificates
Current Certificate Features & Requirements
Features
- Dividends compound monthly
- Choose to have dividends transferred monthly to any of your accounts or paid to you by check
- Federally insured by the NCUA
Requirements
- Minimum deposit of $5 in Owner Voting Share account
- Minimum balance of $500
- Subject to early withdrawal penalties*
- Choose from Traditional and Roth IRAs, see eligibility guidelines below
Current Certificate Rates
| Certificate Term | Dividend Rate | APY^ |
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6 Month |
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1 Year |
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18 Month |
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2 Year |
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30 Month |
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3 Year |
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5 Year |
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Rates effective as of: May 25, 2025
Rates are subject to change. APY- Annual Percentage Yield Dividends are compounded monthly, and the certificate auto renews at the end of the term.
Traditional IRA Feature & Requirements
Features
- Earnings grow tax-deferred until they are withdrawn
- Contributions may be tax deductible
- IRA owners aged 50 and over can make “catch up” contributions of up to $1,000 making their total allowable contribution $8,000 per year
- Anyone who has received a distribution from a qualified retirement plan can move the proceeds of the qualified plan into a Traditional IRA
- Contributions can be made weekly or monthly via Direct Deposit to an IRA Share Savings Account
- Competitive interest rates
Requirements**
- Minimum deposit of $5 in Owner Voting Share account
- Minimum balance of $500
- Must have earned income or be “married filing jointly” with a spouse receiving income
- Contribution limit of $7,000 per year or 100% of earned income, whichever is less
- Prior to age 59 ½ there may be an IRS penalty for early distribution
- Certificates subject to early withdrawal penalties*
Roth IRA Feature & Requirements
Features
- Contribute up to $7,000 per year
- Adjusted Gross Income (AGI) must be less than the allowable limit set by congress.
- IRA owners aged 50 and over can make “catch up” contributions of up to $1,000 making their total allowable contribution $8,000
- Contributions can be made weekly or monthly via Direct Deposit to an IRA Share Savings Account
- Competitive interest rate
- Contributions are not tax deductible
Requirements**
- Minimum deposit of $5 in Owner Voting Share account
- Minimum balance of $500
- Adjusted Gross Income (AGI) must be less than the allowable limit set by Congress.
- Must have earned income or be “married filing jointly” with a spouse receiving income
- Contribution limit of $7,000 per year or 100% of earned income, whichever is less
- Prior to age 59 ½ there may be an IRS penalty for early distribution
- Certificates subject to early withdrawal penalties*
Coverdell Education Savings Account Feature & Requirements
Features
- Earnings accumulate on a tax-deferred basis
- Withdrawals are tax-free if used for qualified education expenses
- Available for use at public, private, or religious elementary or secondary schools
- Available for use at an eligible higher education institution
- Contributions are not tax deductible
Requirements
- Minimum deposit of $5 in Owner Voting Share account
- Minimum balance of $500
- Child under 18 at time of account opening
- Contributions:
- Cannot be made after the beneficiary reaches age 18 (unless the beneficiary is a “special needs” beneficiary)
- Cannot exceed $2,000 per year per beneficiary
- See IRS.gov for additional rules and requirements
Coverdell Education Savings Account Rates
| Account Type | APY* | Details |
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Regular Savings Account |
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Learn More |
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Oakie Super Savers Club Savings |
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Learn More |
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Maxi Fund Money Market |
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Premium Money Market
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Premium Money Market
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Premium Money Market
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Premium Money Market
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Learn More |
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Traditional Roth IRA Share |
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Learn More |
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Coverdell Education Savings Account (CESA) |
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Learn More |
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Business Money Market
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Learn More |
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Business Money Market
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Learn More |
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Business Money Market
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Business Money Market
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Rates effective as of: May 25, 2025
Rates subject to change. APY-Annual Percentage Yield Savings and Money Market Accounts (Savings and Maxi) Important Information: Dividend rates are accurate as of the last dividend declaration date. All savings and money market accounts are considered variable rate accounts and rates are subject to change at any time without notice. Accrued dividends are forfeited if account is closed prior to monthly dividend posting. Fees or other conditions may reduce earnings on the account. Refer to Central One Federal Credit Union's Member Service Agreement and Our Rates and Service Charge Disclosure.
All Rates
| Certificate Term | Dividend Rate | APY^ |
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6 Month |
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1 Year |
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18 Month |
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2 Year |
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30 Month |
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3 Year |
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5 Year |
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Rates effective as of: May 25, 2025
Rates are subject to change. APY- Annual Percentage Yield To be eligible for Premium Certificates, the member must be at least 18 years of age and have minimum monthly direct deposit of $1,500 into a Premium Checking account. Premium Certificates have a minimum balance requirement of $10,000. Dividends are compounded monthly, and the certificate auto renews at the end of the term.
| Certificate Term | Dividend Rate | APY^ |
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6 Month |
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1 Year |
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18 Month |
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2 Year |
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30 Month |
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3 Year |
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5 Year |
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Rates effective as of: May 25, 2025
Rates are subject to change. APY- Annual Percentage Yield Dividends are compounded monthly, and the certificate auto renews at the end of the term.
| Account Type | APY* | Details |
|---|---|---|
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Regular Savings Account |
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Learn More |
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Oakie Super Savers Club Savings |
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Learn More |
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Maxi Fund Money Market |
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Learn More |
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Premium Money Market
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Learn More |
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Premium Money Market
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Learn More |
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Premium Money Market
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Learn More |
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Premium Money Market
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Learn More |
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Traditional Roth IRA Share |
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Learn More |
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Coverdell Education Savings Account (CESA) |
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Learn More |
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Business Money Market
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Learn More |
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Business Money Market
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Learn More |
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Business Money Market
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Learn More |
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Business Money Market
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Learn More |
Rates effective as of: May 25, 2025
Rates subject to change. APY-Annual Percentage Yield Savings and Money Market Accounts (Savings and Maxi) Important Information: Dividend rates are accurate as of the last dividend declaration date. All savings and money market accounts are considered variable rate accounts and rates are subject to change at any time without notice. Accrued dividends are forfeited if account is closed prior to monthly dividend posting. Fees or other conditions may reduce earnings on the account. Refer to Central One Federal Credit Union's Member Service Agreement and Our Rates and Service Charge Disclosure.
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Open Account
Ice Cream Day Dates
All Ice Cream Day events are from 4:00 – 6:00 pm.
June 12th- Auburn Branch, 63 Southbridge Street
July 24th- Westborough Branch, 40 South Street
July 31st- Milford Branch, 82 Prospect Street
August 7th- Northborough Branch, 148 Main Street
August 28th- Shrewsbury Branch, 714 Main Street
August 15th- Worcester (Saint Vincent Hospital) Branch – We’ll be serving Goody’s Kettle Corn at the branch all day!
Food Truck Dates
All Food Truck Events are from 11:00 am – 1:00 pm.
July 12th- Westborough Branch, 40 South Street: Tacoborough Food Truck
August 9th- Shrewsbury Branch, 714 Main Street: Savage Wraps Food Truck
August 14th- Worcester (Saint Vincent Hospital) Branch – Garden Fresh sandwiches in-branch
August 23rd- Auburn Branch, 63 Southbridge Street: Bird’s Nest Panini Food Truck
September 6th- Northborough Branch, 148 Main Street: Tacoborough Food Truck
October 4th- Milford Branch, 82 Prospect Street (Route 140): Braised Food Truck
Adjustable Rate Mortgages
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The 15/5 Adjustable Rate Mortgage offers a fixed APR of
for the first 15 years then adjusts to a new rate every 5 years. Term: Available for terms up to 40 years.
Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.
Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.
Calculate your monthly payment using the ARM Mortgage Calculator
Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.
-
The 15/5 Adjustable Rate Mortgage offers a fixed APR of
for the first 15 years then adjusts to a new rate every 5 years. Term: Available for terms up to 40 years.
Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.
Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.
Calculate your monthly payment using the ARM Mortgage Calculator
Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.
-
The 10/5 Adjustable Rate Mortgage offers a fixed APR of
for the first 10 years then adjusts to a new rate every 5 years. Term: Available for terms up to 30 years.
Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.
Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.
Calculate your monthly payment using the ARM Mortgage Calculator
Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.
-
The 10/5 Adjustable Rate Mortgage offers a fixed APR of
for the first 10 years then adjusts to a new rate every 5 years. Term: Available for terms up to 30 years.
Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.
Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.
Calculate your monthly payment using the ARM Mortgage Calculator
Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.
-
The 5/1 Adjustable Rate Mortgage offers a fixed APR of
for the first 5 years then adjusts to a new rate every 1 year. Term: Available for terms up to 30 years.
Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.
Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.
Calculate your monthly payment using the ARM Mortgage Calculator
Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.
-
The 5/1 Adjustable Rate Mortgage offers a fixed APR of
for the first 5 years then adjusts to a new rate every 1 year. Term: Available for terms up to 30 years.
Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.
Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.
Calculate your monthly payment using the ARM Mortgage Calculator
Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.
-
The 3/3 Adjustable Rate Mortgage offers a fixed APR of
for the first 3 years then adjusts to a new rate every 3 years. Term: Available for terms up to 30 years.
Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.
Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.
Calculate your monthly payment using the ARM Mortgage Calculator
Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.
-
The 3/3 Adjustable Rate Mortgage offers a fixed APR of
for the first 3 years then adjusts to a new rate every 3 years. Term: Available for terms up to 30 years.
Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.
Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.
Calculate your monthly payment using the ARM Mortgage Calculator
Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.
-
The 1/1 Adjustable Rate Mortgage offers a fixed APR of
for the first 1 year then adjusts to a new rate every 1 year. Term: Available for terms up to 30 years.
Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.
Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.
Calculate your monthly payment using the ARM Mortgage Calculator
Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.
-
The 1/1 Adjustable Rate Mortgage offers a fixed APR of
for the first 1 year then adjusts to a new rate every 1 year. Term: Available for terms up to 30 years.
Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.
Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.
Calculate your monthly payment using the ARM Mortgage Calculator
Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.
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