Some things in life are easy – laughing, chewing gum, eating chocolate and enjoying a campfire. Some things in life aren’t easy – calculus, rocket science, not eating chocolate and not burning through your extra cash each month.
There are times when it might have been hard to save money due to financial circumstances or maybe you’ve never had the opportunity to start saving your money before.
Whatever the reason, Oklahoma Educators Credit Union (OECU) is here to help you save money easily, with our EZ Start CD. This product is designed to encourage good savings habits – when you open the EZ Start CD, you give up access to your money for a period of time, called the term, which is 12 months in this case.
The EZ Start CD is different from other CDs in the fact that you only need $100 as a requirement to open, which is a lower starting balance than a regular CD, and you’re ready to enjoy saving for 12 months at a higher rate than most savings accounts. For the remaining 11 months, a minimum of $35 will be direct deposited from your designated checking account to your EZ CD. Whatever amount over $35 that you chose to deposit into your CD, your good savings regiment begins – you can’t spend money you don’t have access to and you learn to get along and budget with the money you have available.
When the 12 months is up, if you had the minimum $35 directly added to your CD each month after the account is opened, you would have roughly $485 – and that doesn’t include the interest you would accrue throughout the year. If you were adding more than $35 per month, you’d have even more money saved at the end of the 12 months. When your EZ CD term is up, you can withdraw the money you’ve saved, or you can roll the money over and start saving for another year.
Life isn’t always easy and saving money isn’t either, but with OECU’s EZ Start CD we’re helping you on your road to financial security – nice and easy. Rates for an EZ Start CD are the same rate as a regular 12 month CD. View OECU CD rates here.
Federally Insured by NCUA