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Homebuyer Savings Account

Crush your homebuying goals with the tax-deductible Homebuyer Savings Account. Save up for closing costs including your down payment, escrow account, inspection fees and appraisal fees. 

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Crush your homebuying goals with the tax-deductible Homebuyer Savings Account. Save up for closing costs including your down payment, escrow account, inspection fees and appraisal fees.  Open Your Account

Get help saving for your future home

Saving up to buy a home isn't always easy but we're here to help. Stay focused by opening an account that is dedicated to saving for your future home. Plus, the funds you deposit could be deductible from your Oklahoma state income tax.

Pay your future self first by opening a Homebuyer Savings Account

  • Deposits will be tax-deductible per year up to $5,000 for individuals and $10,000 for joint filers*
  • Open a homebuyer savings account with as little as $5
  • Start earning interest on balances over $100
  • Set up automatic savings each time you get paid
  • Tiered savings account - the bigger your balance the more interest you earn
  • Accounts are insured by the NCUA.

Contact a Savings PRO today

Keeping track of your savings goals has never been easier.

Download the app today

Saving up for a home is a big investment. Here are a few helpful tips to get you started.

  • Start saving now, your future self will thank you
  • Find out how much home you can afford by getting pre-approved
  • Make your deposits automatic
  • Create a budget and stick to it
  • Attend a homebuyer workshop for cost-saving tips
  • Utilize Digital Banking to help you stay on budget
  • Find out if you're eligible for down payment assistance

Contact a Savings PRO today

Transparency is important to us. Our fine print is actually the same size as anything else we talk about.

For all the legal speak please review the current Rate and Fee Schedule. Here are the highlights.

  • If you need to make frequent withdrawals every month consider opening a checking account in addition to a savings account
  • The Annual Percentage Yield (APY) may change quarterly on a savings account
 

Contact a Savings PRO today

*Contributions are deductible from Oklahoma state income tax. Amounts are subject to change as set forth by the Oklahoma Tax Commission.  Funds may be used for qualifying expenses only or could be subject to a 10% penalty. Restrictions apply. OKCU is not responsible for the tax implications of this account. Consult with a tax advisor prior to opening the account regarding the deductibility of contributions and qualifying purchases.

FOR PEOPLE, NOT PROFIT

FOR PEOPLE, NOT PROFIT

The mortgage crisis taught us that you want to work with a lender who puts people first, not profits. Our team of home loan experts are happy to help.

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Happy To Help Stories

Why do our members love being part of OKCU? Find out below.

  • Evelyn S.

    The savings account with OKCU has encouraged my children to continue to save with OKCU since elementary school. Now they are in college and still keep their savings accounts open with OKCU.

    – Evelyn S.

  • OECU Happy Face

    OKCU helped me move funds from my savings account to my daughter's - even when I did not know my account number - to help her with college.

    – Susan O.

  • Mary M.

    OKCU helped me start a savings account by the automatic withdrawal from payroll check once a month. I don't even miss the money.

    – Mary M.

  • Adriana M.

    Starting my savings account at 16 really increased my confidence because I was able to feel like a young, responsible adult.

    – Adriana M.

  • Jennifer B.

    I feel like I am a part of a family with OKCU, as they go above and beyond to make sure I am taken care of.

    – Jennifer B.

  • Connie H.

    You just don't get this kind of service from a bank. I know with OKCU, I am not just a number on a page but a person that matters to my OKCU bankers.

    – Connie H.