EARN up to 6.16% APY WHILE YOU SAVE FOR YOUR HOME

Plus Possible Tax Deductions^**

with Cardinal Credit Union and the Ohio Homebuyer Plus Savings Program

Earn up to 6.50% APY and get $1,000 toward closing costs!*

Saving for your first home—or your next one—just became more rewarding. With the Ohio Homebuyer Plus Savings Program, Cardinal Credit Union offers a powerful way to supercharge your savings while helping you reach your homeownership goals in Ohio.

Why Choose the Homebuyer Plus Savings Account at Cardinal?

Program Perks:

May offer potential tax advantages**
Up to 6.16% APY on your savings*
Federally insured by the NCUA

Program Features:

$500 minimum opening deposit
$100,000 maximum contribution
Funds may be used toward down payment and/or closing costs
Funds must be used within 5 years (if balance is under $100,000)

Eligibility:

Must be an Ohio resident age 18 or older
Funds must be used for a primary residence in Ohio
Must accept the Participation Statement from the Ohio Treasurer’s Office

Interest Rate:

Balance Range	APY*
$500.00 – $100,000.00	6.16%

Buying a Home Soon?

Apply for your mortgage through Cardinal and receive a $1,000 credit toward your closing costs! Whether you’re a first-time buyer or looking to upgrade, our team is ready to help you every step of the way.

Apply Today

Frequently Ask Questions

What is the Ohio Homebuyer Plus program?

It’s a savings program created by the Ohio Treasurer’s Office and local banks/credit unions to help Ohio residents buy a home. It’s a special savings account that earns higher-than-usual interest and offers tax benefits.

Who can open an account?

You must:

Live in Ohio
Be at least 18 years old
Have your main home in Ohio
Use the money for a down payment or closing costs on a home in Ohio

What types of homes qualify?

You can use the money to buy a:

House
Condo
Unit in a multi-family building
Manufactured or mobile home (in some cases)

You cannot use it for RVs, houseboats, campers, commercial property, or land without a house on it.

Where can I open an account?

At a participating bank or credit union, like CARDINAL CREDIT UNION. You’ll need to agree to the program’s rules — mainly that the money must go toward buying a home.

How much can I deposit?

Minimum: $500
Maximum: $100,000

How long can I keep the account?

Up to 5 years. You must keep at least $500 in it.

What’s the benefit compared to a normal savings account?

It pays higher interest rates and may offer tax savings.

Who can put money in the account?

You (the account owner)
Family or friends (their contributions may also be tax-deductible in Ohio)
Cardinal Credit Union

Can two people in the same household each open an account?

Yes, as long as each person qualifies and uses their own Social Security number.

Is it only for first-time buyers?

No. Anyone who qualifies can use it, even if they’ve owned a home before.

Can I take money out during the 5 years?

Yes, but only to use for approved homebuying expenses.

What if I move out of Ohio?

You’ll have to withdraw the money or transfer it to another participating bank/credit union.

What happens after 5 years?

If you haven’t used the money, it will move to a regular savings account at your bank/credit union (for example, into a Primary Savings account at Cardinal Credit Union).

Can I open another account later?

Yes, but you’ll need to wait at least one year.

Are there extra resources to help me buy a home?

Yes. Cardinal Credit Union offers free financial counseling, homebuyer help, and mortgage guidance to figure out what type of loan and home fits your budget.

* APY = Annual Percentage Yield. Rates effective as of April 1, 2026 and subject to change without notice.
**Consult your tax advisor regarding potential tax benefits.

The Ohio Homebuyer Plus Account is a variable rate savings account, meaning the Annual Percentage Yield (APY) may change after the account is opened. A minimum deposit of $500 is required to open the account, and contributions are limited to a maximum of $100,000. The account can remain open for up to five years.

**This account may also provide tax benefits for Ohio taxpayers. Contributions may be deducted from Ohio income taxes and can be claimed by the saver or by a parent, spouse, sibling, stepparent, or grandparent. The deduction is limited to $5,000 per person or $10,000 per married couple, per year, with a lifetime maximum of $25,000 per contributor, per account. Contributions above the yearly limit cannot be carried forward to future years.

If funds are not used for eligible home purchase expenses, there may be state tax reporting requirements and possible tax liabilities. Individuals are encouraged to consult a tax advisor for personal tax guidance. Cardinal Credit Union membership is required to open an account. All accounts are federally insured by the NCUA, and Cardinal is an Equal Housing Opportunity lender.