Oregon Community Credit Union 60-Month Jumbo IRA Earns 3.20% APY


Deal Summary: 60-month Jumbo IRA Certificate, 3.20% APY, $100k minimum; 60-month Regular IRA Certificate, 3.15% APY, $500 minimum.

Availability: Residents of 28 Oregon counties; University of Oregon relationship (possible easy membership requirement); State of Oregon employees.

Oregon Community Credit Union (OCCU) is offering excellent rates on its longest term IRA Certificates. The 60-month Jumbo IRA Certificate currently earns 3.20% APY ($100k minimum), while the 60-month Regular IRA Certificate earns 3.15% APY ($500 minimum). Both are offered as Traditional and Roth IRAs.

3.20%$100k-Oregon Community Credit Union60 Month Jumbo IRA (Traditional, Roth)
3.10%$500-Oregon Community Credit Union60 Month IRA (Traditional, Roth)
Rates as of March 21, 2023.

The 60-month IRA Certificates have been part of OCCU’s product for more than ten years, with the current rates equaling the initial APYs offered in December 2009. There have been 16 rate changes since March 2010, giving the Jumbo IRA APYs ranging from a high of 3.35% in late 2019, to a low of 1.66% in 2015.

Funding and Distribution of Maturing Funds

The IRAs can be funded through an ACH transfer, wire, or check. According to CSR, the easiest way to access maturing funds is to first transfer the funds to the Primary Savings Account. Funds can then be transferred by ACH or wire.

OCCU participates in CO-OP Shared Branch Network, giving its members access to more than 5,000 shared branches nationwide and nearly 30,000 ATMs.

With shared branching, you can conduct transactions at thousands of locations nationwide. Wherever you are, just type in your location on our website or mobile app to find a shared branch near you.

CD Bump and Add-On Options

A one-time rate increase and a one-time additional deposit are offered on the 24-month and 48-month CDs.

2.95%$100k-Oregon Community Credit Union48 - 59 Month Jumbo CD (w/ One-Time Rate Increase Option)
2.85%$100k-Oregon Community Credit Union24 - 35 Month Jumbo CD (w/ One-Time Rate Increase Option)
2.85%$500-Oregon Community Credit Union48 - 59 Month CD (w/ One-Time Rate Increase Option)
2.75%$500-Oregon Community Credit Union24 - 35 Month CD (w/ One-Time Rate Increase Option)
Rates as of March 21, 2023.

As stated on the Certificate Accounts Rate and Fee Schedule,

24 month and 48 month (only) Regular and Jumbo Certificate Accounts are eligible to receive a one-time interest rate increase based on the Credit Union's current rates offered and a one-time additional contribution up to the amount of the original deposit during the term of the Certificate.

Although not stated on the website, CSR confirmed that the rate increase and additional deposit options are not tied to each: they can be exercised independently at any time during the term length.

The 48-month CD APY is close to that of the 60-month CD (only 5 bps lower), making the 48-month the best deal. Should OCCU CD rates drop, including the 48-month CD, the one-time rate bump won't be of much use, obviously. However, the one-time additional contribution could prove to be very useful, since it’s not dependent on the interest rate option.

There’s a drawback to the add-on features: it’s limited to one deposit “up to the amount of the original deposit.” If your original deposit is $100k, you’re limited to one deposit up to $100k sometime during the term. That’s a big limitation. The ideal scenario would include a small initial deposit (like $500) and a huge add-on deposit (like $200k) sometime in future, after rates have fallen. Your $200,500 would then be guaranteed a higher rate than currently offered.

As stated on the Certificate Accounts Rate and Fee Schedule document, the Early Withdrawal Penalty reads as follows:

The amount of the early withdrawal penalty is based on the term of your account. The penalty schedule is as follows:

Certificate Terms:

    25 months-60 months – 730 days interest

Unlimited beneficiaries with assigned percentages can be named and Social Security numbers are required.


Headquartered in Eugene, Oregon, Oregon Community Credit Union’s field of membership (FOM) is primarily residency-based, with individuals who live or work in any of the following 28 Oregon counties eligible to join.

Oregon counties – Benton, Clackamas, Clatsop, Columbia, Coos, Crook, Curry, Deschutes, Douglas, Gilliam, Hood River, Jackson, Jefferson, Josephine, Klamath, Lane, Lincoln, Linn, Marion, Morrow, Multnomah, Polk, Sherman, Tillamook, Wasco, Washington, Wheeler, and Yamhill.

Easy Membership Requirement – Members of the University of Oregon Alumni Association (UOAA) are eligible for membership and this may be a backdoor for non-Oregon residents. According to the UOAA website, anyone can join, “regardless of whether or not you are an alum.” An annual membership for non-alumni is $55 for a individual membership. When I asked CSR if UOAA members had to live in Oregon, he wasn’t sure. After consulting with his supervisor, CSR confirmed that any UOAA member, regardless of residency status, is eligible to join OCCU.

Employment – Employees and students of the University of Oregon also qualify for membership, as do State of Oregon employees and employees of Bi-Mart.

Relationship –Immediate family members of current OCCU members or of anyone living in the above-named Oregon counties are also welcome to apply.

Joining OCCU can be done online or at any of the 12 Oregon branches, located in Eugene (9), Salem, Springfield, and Wilsonville.

Every OCCU membership comes with a Primary Savings Account. With just a $5 minimum balance, you'll earn 0.05% Annual Percentage Yield (APY) on your money and be eligible to open additional OCCU savings accounts for other long-term goals.

Credit Union Overview

Oregon Community Credit Union has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 3.47% (excellent) based on September 30, 2019 data. In the past year, OCCU has increased its total non-brokered deposits by $64.66 million, and excellent annual growth rate of 4.26%. Please refer to our financial overview of Oregon Community Credit Union (NCUA Charter # 65856) for more details.

Oregon Community Credit Union is currently the second largest credit union in Oregon, with nearly 164,000 members and assets in excess of $1.8 billion. OCCU was established in 1956 as the Lane Federal Credit Union by a group of state government employees. (“Lane” refers to Lane County.) In 1981, the name was changed to U-Lane-O Credit Union when the FOM expanded to include the University of Oregon employees and students. The Oregon Community Credit Union rebrand occurred in 2003, following the change to a community charter.

In the same year as the OCCU rebrand, a merger with the Portland Teachers Credit Union (now known as OnPoint Community Credit Union and Oregon’s largest credit) was explored. But according to a Credit Union Times 2004 article, what would have been the largest credit union merger ever, was not to be.

Very early in 2004, the boards agreed on the merger. The deal was given regulatory approval by NCUA, the state regulator and the FTC, but in June things fell apart.

The theme of the merger all along was a “merger of equals”, but they later admitted that may not have been the best approach. “In most mergers you have one institution that is doing the acquiring and can make the call on things one way or the other. In this (merger of equals) approach, it takes a lot more time and discussion to decide basic things,” said Dias. Oregon Community CU CEO Gordon Hoerauf said, “I’m sorry to see it not gel, but these things happen.”

How the IRAs Compare

When compared to 156 similar length-of-term IRAs tracked by DepositAccounts.com, which are available within the FOM, Oregon Community Credit Union's 60-month Jumbo IRA and IRA APYs currently rank first and second, respectively, and regardless of minimum deposit requirements.

The above rates are accurate as of 1/27/2020.

Looking for the best IRA rates, either nationwide or state-specific? Please refer to our IRA Rates Table page.

Related Pages: Eugene CD rates, Portland CD rates, 5-year CD rates, IRA CD rates

Oregon Community Credit Union Adds 49-Month CD, Up To 3.20% APY
Deal Summary: Pick Your Term CD Specials – 49-month (3.20% APY, $100k; 3.15% APY, $500) and 19-month (2.90% APY, $100k; 2.85% APY, $500)

Availability: Residents of 28 Oregon counties; University of Oregon relationship (possible easy membership requirement); State of Oregon employees.

Oregon Community Credit Union (OCCU) has added a 49-month and a 19-month Pick Your Term (PYT) CD Special to its product line. Both PYT CD Specials have tiered APYs, based on minimum deposits of $500 and $100k.

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