Launch Your Financial Future
Saving money is a great habit to get into. From holidays to island getaways, from saving for college or for retirement, OHecu can help you reach your savings goals with one of the many savings accounts that we offer. We know that you work hard for your money – and we want to make sure that your money works even harder for you.
What types of savings accounts does OHecu offer?
OHecu offers several savings options designed to help members save for different financial goals. Options include Regular Share Savings, Special Savings, Summer Reserve, Vacation and Holiday Savings accounts, Money Market accounts, and IRA Share Savings. OHecu also offers Term Share Certificates and Term IRA Certificates for members looking for longer-term savings options.
How much money do I need to open an OHecu savings account?
The minimum deposit depends on the type of savings account you choose. A Regular Share Savings account can be opened with a minimum deposit of $5. Special Savings, Summer Reserve, Vacation and Holiday accounts also require $5 to open, while an OHecu Money Market account requires $1,000. IRA Share Savings requires a $100 minimum deposit.
Does OHecu offer a Money Market savings account?
Yes. OHecu offers a Money Market Account that provides a variable dividend rate while allowing members access to their funds. The account requires a minimum $1,000 balance to open and includes 24/7 access through Online & Mobile Banking. The account currently allows up to six third-party withdrawals per month, with up to three of those withdrawals made by check.
What savings account is best for reaching a specific savings goal?
The right account depends on your savings goal and how you plan to use your money. OHecu offers specialized savings options, including Vacation, Holiday, Summer Reserve and Special Savings accounts, which can help members set money aside for specific expenses or goals. A Money Market account may be another option for members who want a liquid savings account with tiered dividend rates.
Does OHecu charge a monthly fee for a savings account?
OHecu's current fee schedule lists a monthly maintenance fee for the Share Savings Account, with the fee depending on the member's membership package. Package members receive the fee benefit, while the Standard Membership fee is currently $10. Certain qualifications may also waive the Regular Savings maintenance fee. Members should review the current OHecu Fee Schedule and membership package requirements for the most up-to-date information.
How often does OHecu pay dividends on savings accounts?
OHecu savings accounts earn dividends according to the account's applicable rate and balance requirements. Regular Share Savings and other savings accounts have a monthly dividend period, and dividends are compounded and credited monthly according to the Share Savings account disclosure. Rates and APYs are subject to change.
Can I access my OHecu savings account online?
Yes. OHecu members can access eligible savings accounts through Online & Mobile Banking. The service allows members to manage their accounts electronically, and OHecu's Money Market Account specifically includes 24/7 Online & Mobile Banking access.
How do I open an OHecu savings account?
To open an OHecu savings account, you first need to become an OHecu member. OHecu provides an online membership application that allows you to get started online. Once you become a member, you can select the savings account option that fits your financial goals and review the applicable rates, minimum deposits and account requirements.
