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.

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:

    6 months-24 months – 365 days interest
    25 months-60 months – 730 days interest

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

Funding and Accessing Maturing Funds

The PYT CD Specials can be funded by ACH, wire, or check. There is a 10-day grace period before a PYT CD Special “defaults to the current 12-month rate and term.” 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.


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.

As newly-added products, the 19- and 49-month PYT CD Specials are currently not listed on the online application. CSR stated that the PYT CD Specials can be opened at any of the above-mentioned branches or by phone (541.687.2347 or 800.365.1111).

Credit Union Overview

Oregon Community Credit Union has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 3.49% (excellent) based on March 31, 2019 data. OCCU has an above average capitalization level (9.91%), the result of holding $1.75 billion in assets with $173.6 million in equity. 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 more than 158,000 members and assets in excess of $1.7 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 CD Specials Compare

When compared to 211 similar length-of-term CDs tracked by DepositAccounts.com, which are available within the FOM, Oregon Community Credit Union's 49-month Pick Your Term Jumbo CD and CD Special APYs currently rank first and second, respectively and regardless of minimum deposit requirements.

When compared to 204 similar length-of-term CDs tracked by DepositAccounts.com, which are available within the FOM, Oregon Community Credit Union's 19-month Pick Your Term Jumbo CD and CD Special APYs currently rank second and fourth,respectively and regardless of minimum deposit requirements.

The above rates are accurate as of 7/25/2019.

Looking for the best CD rates, both nationwide and in your state? Please refer to our CD Rates Table page.

Related Pages: Eugene CD rates, Portland CD rates, 1-year CD rates, 5-year CD rates

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