February 27, 2026

Did You Know? You Can Save and Spend Your Tax Refund.

Tax refund season comes with a familiar tug-of-war. One voice says save it. Another says you need it now. And most of the time, “now” wins. As a result, the average refund disappears within 60 days.

But what if you didn’t have to pick a side? Here’s a solution that lets you do both and keeps you in control of your money.

With a CD-secured or savings-secured loan from First Commerce, you deposit your refund and it starts earning interest right away. Then, if you need funds, you borrow against your own money, at a competitive rate, while your full deposit stays put and keeps growing.

Here’s what that means for you:

  • Your refund stays intact. Every dollar you deposited keeps earning interest, untouched.
  • You get the cash you need now. Use it for whatever matters most. No judgment. No hoops.
  • You’re building credit at the same time. On-time payments on your secured loan get reported to the credit bureaus, strengthening your credit history.

Three wins. One refund.

A quick example:

Say you get a $3,000 refund. You put it in a First Commerce CD earning 2.70% APY*. Then you take a secured loan against with an interest rate of 5.70% APR. Your $3,000 is growing. You’ve got cash in hand. And every payment you make is quietly boosting your credit score.

That’s your refund working overtime.

*APY=Annual Percentage Yield. CD=Certificate of Deposit. Rates subject to change without notice. Early withdrawals will be subject to a substantial penalty and any fees could reduce the yield. Speak to a Financial Services Officer for complete details. Insured by NCUA

First Commerce Credit Union provides this content to inform and inspire. While we strive for accuracy, we do not guarantee this information is accurate, complete or current.  This information is not professional advice (tax, legal, financial, etc.) and should not replace your individual consultation with qualified advisors. Laws, rules, and personal circumstances can change, so please verify how this information applies (or does not apply) to your situation and location. All decisions remain your responsibility. First Commerce Credit Union and its affiliates and employees assume no liability for outcomes resulting from the use of this material.

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Who We Are

Established in 1940, First Commerce is a full-service, not-for-profit credit union with locations across North Florida and South Georgia. We are a member-owned cooperative and committed to the communities we serve. Our purpose is to empower people to enhance their financial well-being by helping them achieve their financial goals – whether it’s simplifying their day-to-day finances, buying their first car or home, or building a great retirement. When you bank with First Commerce, you get a truly personal experience backed by 80 years of financial expertise.