Father and daughter holding a guitar together.

Savings Accounts

The future holds promise. And maybe a few challenges. With a smart savings strategy, you can be ready for anything life brings your way.

Open an Account       

getting you where you want to go

Save for a rainy day, a special occasion, or to secure your family’s future. Everyone has a good reason - or two, or three, or more - to stockpile some money. No matter what you’re saving for, the key is to get started right away, make regular deposits, and let our steady dividend payments move you closer to your goals.

Membership Begins with a Regular or Minor Savings Account

  • No monthly service fees
  • Unlimited withdrawals
  • Dividends paid and compounded monthly based on your average daily balance
  • Grow your balance faster with Direct Deposit, Payroll Deductions or automatic transfers from other accounts
  • Accounts insured up to $350,000, with Roth and Traditional IRA's insured to an additional $350,000 - all at no cost to you. 


Take it to the next level with Personalized Savings Accounts

Hide Away Savings

Looking for a little extra motivation? If you make regular monthly deposits of at least $50, we'll kick in monetary rewards that can total up to $25 per year.
  • Make $50 in deposits on a monthly basis and earn added rewards every three months
  • No monthly service fees
  • No penalty for early withdrawals
  • Grow your balance faster with Direct Deposit, Payroll Deductions, or Automatic Transfers from other accounts
Open an Account       


First Home Savings Plus

Nothing is more exciting than buying your first home. We can help make that dream come true with an account that matches 25% of your deposits. In all, you can earn as much as $750 to pay down the closing costs on a Commonwealth Credit Union mortgage.
  • Set up this account to qualify for our special First-Time Home Buyer loan 
  • Meet with a Home Loans Expert to set up your savings goal
  • Earn competitive dividends on deposits
  • We will match 25% of the funds you save, up to $750*
  • Your saved funds can be used for a down payment on your home or for other home-buying expenses
  • Matched funds will be applied to your closing costs
  • Must be enrolled in eStatements
To open a First Home Savings Plus Account, please visit your local branch or give us at call at 800.228.6420.

*Must open a Commonwealth CU Regular Savings Account and make monthly deposits in accordance with the plan term. Online Banking and eStatement are required. Minimum term of 6 monthly deposits and maximum of 35 monthly deposits required. Must close a mortgage loan with Commonwealth CU within 12 months of the end of monthly savings deposit term. Commonwealth CU will match 25% of deposit account balance, up to a maximum match of $750, to be credited at settlement of Commonwealth CU Home Loan. Withdrawals made from deposit account may reduce the amount of the match. If deposit account is closed prior to the match being awarded, the match amount will be forfeited. Rates, terms and conditions are subject to change and vary based on credit worthiness, qualifications and collateral conditions. All loans subject to approval.

Round UP Savings

Turn your debit card into a profit center. First, open a Round UP Checking Account. Next, use your card for everyday shopping. Every purchase will be rounded up to the nearest dollar, with the spare change deposited into your Round UP Savings** account.
  • For your first 90 days in the program, we'll match 100% of the rounded-up transfers - up to $250.
  • After the first 90-day period, we'll match 5% of the rounded up transfers - up to $250 annually.
  • We may not issue Round Up credits for multiple transactions made to the same merchant on the same day or for debit card transactions used to pay bills.
Interested in a Round UP Savings? Apply for a Round UP Checking account today!



** Round UP Savings Account Program are subject to the following additional terms. To enroll in the Round Up Savings Account Program, you must have a Commonwealth Credit Union Round Up Checking Account. When you enroll in our Round Up Savings Program, the amount of any debit card purchase you make using your Commonwealth Credit Union debit card is rounded up to the nearest whole dollar. The difference between the purchase amount and the whole dollar amount will be transferred from your Round UP Checking Account you have with us to the Round Up Savings Account. No other deposits to the Round Up Savings Account Program are permitted.

Christmas Savings/Vacation Club

Make your winter holidays brighter. Make your next trip more memorable. By saving year-round, you can take these good times and make them even better.
  • No minimum deposit
  • Earn competitive dividends
  • Build up balance with automatic Payroll Deductions or making deposits anytime you wish
  • For Vacation Club, you can make two fee-free withdrawals each calendar year
  • For Christmas Savings, you can have the entire account balance transferred to your regular checking or savings account on October 1.
  • For Christmas Savings, you can also make withdrawals between January 1 and September 30 for a $5 fee
Open an Account       


IRA Savings Account

Some people have grand plans for their retirement years. Others just want to kick back and relax. No matter which approach you prefer, you'll need enough income to live comfortably. An IRA comes with tax benefits that help you stretch your savings even further.
  • Contribute up to $6,000 annually ($7,000 if over age 50)
  • Choose either Traditional or Roth IRAs
  • Traditional IRAs come with potential tax deductions for every year you make a contribution
  • Roth IRAs feature tax-free withdrawals
  • There's no tax on annual dividend earnings for either IRA type
  • In some cases, IRA funds can be used for higher education expenses or home-buying costs
  • Consult your financial advisor for tax rules and other details
To open an IRA Savings Account, please visit your local branch or give us at call at 800.228.6420.
person icon

Apply Now

Start saving today. Tomorrow will be here before you know it.
Percent sign icon.

Check Rates

As a not-for-profit credit union, one way we give back to our members is in the form of higher than average savings rates.

have you started a savings plan for your child?

College. First car. Wedding. There are plenty of things to save for, and we can help!

Smiling girl sits outside of a cake shop.

Coverdell Education Savings Accounts

You want your child to get the best education possible. But how do you cover skyrocketing tuition costs? One answer is with a special savings account that comes with several tax advantages.
  • Contribute up to $2,000 per child per year
  • Funds can be spent on qualified expenses for primary or secondary education or college costs
  • Qualified expenses include tuition, room and board, books, equipment, and other supplies - such as computers
  • Dividends grow tax-free, and all withdrawals for qualified education expenses are tax-free

To open a Coverdell Education Savings Account, stop by your local branch or give us a call at 800.228.6420.

Young girl holding basketball while playing with her brother and grandparents.

GROW with me certificate

Every year, you watch your children or grandchildren get bigger. Now you can be certain that their savings will grow along with them. Build a better future for them with a Certificate that calls for annual deposits. This certificate is available only in October, so mark your calendar!
 
Parents measuring their kids against a wall.

CHange is good...especially when you Save it!


Round Up logo.

Learn more about round up