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Start saving for your first home.

Oregonians who haven't owned a home in the last three years earn big benefits with a First-Time Home Buyer Savings Account!

Start Saving Today

FIRST-TIME HOME BUYER ACCOUNT RATES

1APY=Annual Percentage Yield. 

Rates as of: July 1, 2025
Account Balance
Min Balance to Receive Dividends
DIVIDEND RATE
APY1
Account Balance
$0 - $20,000
Min Balance to Receive Dividends
$0.00
DIVIDEND RATE
1.98%
APY1
2.00%
Account Balance
$20,000.01+
Min Balance to Receive Dividends
$0.00
DIVIDEND RATE
0.50%
APY1
0.50%

1APY=Annual Percentage Yield. 

Start your First-Time Home Buyer Savings Account application

Benefits of a First-Time Home Buyer Savings Account

We have one of the best first-time home buyer savings accounts around. If you're an Oregon resident and have not owned a home in the last three years, you qualify for our First-Time Home Buyer Savings Account and all of these great perks!

Cheerful family sitting on the porch of their new house after saving with First Time Homebuyer Savings Account at CCCU

Tax Benefits

Earn an Oregon state tax subtraction of up to $6,125 filed single, or $12,245 for joint filers per year.2

Free Appraisal

When you close your Home Loan through CCCU, you'll get a free appraisal valued at up to $700!

Earn Dividends

Save even more with high-yield dividend earnings on your First-Time Home Buyer Savings Account.

Take Your Time

CCCU helps make home ownership more affordable by allowing you to save for up to ten years!
Start Saving Today

How to Qualify for First-Time Home Buyer Benefits

Qualifying for CCCU's tax advantaged First-Time Home Buyer Savings Account is simple. You just need to meet three basic requirements to start saving for your first home!

  • Residency: You must be an Oregon state resident to qualify for our First-Time Home Buyer Savings Account.
  • First Home: Only Oregonians who have not owned a home in the last three years qualify for first-time home buyer benefits.
  • Location: The home you are purchasing must be in the state of Oregon.
Start Saving Today
Woman on Oregon Coast walking and thinking about purchasing her first home and saving with a First Time Homebuyer Savings Account
Cute first home purchased with CCCU after Saving with First time Homebuyer Savings Account

What is a First-Time Home Buyer Savings Account?

A First-Time Home Buyer Savings Account is a tax-advantaged saving account with perks to help home buyers start saving for their first house. First-time home buyer programs are created through state legislation and offer tax benefits for residents saving up to purchase their first home.

In Oregon, you can deduct up to $6,125 for an individual or up to $12,245 for joint filers per year.

Start Saving Today

After Your First-Time Home Buyer Account is Open

Be sure to visit the Oregon Department of Revenue's website and fill out the required Form OR-HOME to designate your new account as your first-time home buyer account. You will keep this form with your account statements and any tax forms related to the account that you receive from CCCU.

You will also find answers to commonly asked questions about the program, helpful information and other program forms on the Oregon Department of Revenue's site.

Learn More
Woman on computer after signing up for a first time homebuyer savings account with CCCU
CCCU Debt Consolidation ebook

Discover debt consolidation tools that can help you today!

Our Debt Consolidation: Expectations vs Reality guide will help you learn valuable information about debt consolidation and what to expect when you set out to reduce your overall debt.

Ready to get started? Download your guide now:

What our members are saying:

“Stopped to set up a joint account and the process went smoothly and we were treated with the professionalism one should expect. A minor glitch with having to unlock a specific Credit Reporting Agency, but once we got that resolved we got approved. So far, so good!”

Kevin H.

“They care about my dreams of becoming a homeowner. Such a better experience with them compared to the mega banks and even the big credit unions!”

Lauren M.

“I am a first-time home buyer and Brandon/CCCU team made the process so easy while still getting the best rates available. Every question or concern, big or small, was answered so quickly. The personalized attention was so wonderful that I used them to also purchase my 2nd home years later. I highly recommend Brandon and his team!”

Ken N.

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DISCLOSURES

2 Subtraction contribution limits are set by the Oregon Department of Revenue, currently not to exceed $6,125 for an account holder that files an individual tax return and $12,245 for joint account holders that file a joint return and subject to change by the Oregon Department of Revenue. The account holder must be an Oregon resident and the home purchase must be in Oregon. Deposits to an Oregon First-Time Home Buyer Savings Account can be made for up to 10 years or until the account holder(s) purchase a house, whatever comes first. There is a maximum subtraction of $50,000. Please consult your tax advisor or the Oregon Department of Revenue (HB 4007) for a complete list of rules governing this account and the qualification that determine the applicable tax deductions. The credit union is not responsible or liable for: (a) Determining or ensuring that an account satisfies the requirement to be a First-Time Home Buyer Savings account; (b) Determining or ensuring that the funds in a First-Time Home Buyer Savings account are used for eligible costs; (c) Reporting or remitting taxes or penalties related to the use of a First-time Home Buyer Savings account.

Account qualifications apply. Contact credit union for membership eligibility and other details. 

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CCCU is committed to serving all persons within its field of membership, including those with disabilities. We strive to make not only our physical branches accessible but also to conform to WCAG 2.0 guidelines for website accessibility. Our efforts are ongoing including frequent testing and updates to improve accessibility. Should you have any problems accessing our branches or website, please contact us so that we may promptly assist you and remedy any accessibility concerns.

Consolidated Community Credit Union is an assumed business name of Consolidated Federal Credit Union. Providence Credit Union (PCU), Consolidated Community Credit Union (CCCU) and CCCU Cascade are all trade names or registered service marks of Consolidated Federal Credit Union. Although these branches have different names, they are all part of the same credit union; shares and deposits held at each office are not separately insured.

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