With the holidays upon us, the last thing you might be thinking about is opening up a Christmas Club savings account at your local credit union in New Bedford. But, just think for a minute about how nice it would be right about now to have some money stored away to help pay for your holiday shopping! Making plans now to start saving for next year can save you on credit card interest rates and make shopping for family and friends a whole lot more merry. When you join St Anne Credit Union, you gain a lot of great opportunities to put your money to work for you. Even small deposits in your savings accounts on a weekly or monthly basis can make a big difference.
What is a Christmas Club Savings Account?
You might not have heard of a Christmas Club savings account, but chances are good that your parents or grand-parents may have had one before. It is a savings account option that has been around for decades, but it was most popular in the 1970s. Today you can only find them at your local credit union in New Bedford. Many people “finance” holiday shopping with credit cards or deplete their regular savings to pay for gifts. Opening up a Christmas Club savings account is a smarter way to set money aside specifically for holiday shopping.
This type of account is really just a short-term savings account that is set up by your financial institution to help you save money for the holidays. It can be opened with just one dollar, and the deposits that you make throughout the year are up to you. You can put in money weekly, monthly or whenever you get some extra cash. When you join St Anne Credit Union, make sure to ask about opening a Christmas Club savings account. You can learn more about this type of savings plan in our online banking member guide.
- Open your Christmas Club savings account whenever you are ready to start saving – the sooner the better!
- The balance collected is automatically transferred to your Main Share Account at our credit union in New Bedford during the first week of October.
- Start taking advantage of holiday sales online or at local stores with your Christmas Club savings account.
- St Anne Credit Union Club accounts are “continuous,” which means that you use the same passbook each year so you don’t have to keep opening new accounts after each holiday season passes.
Advantages of Opening a Christmas Club Savings Account
There are lots of great reasons to open up a savings account at your local credit union in New Bedford, but when the account is for a specific reason, it can really pay off. Some people open savings accounts to save for a down payment on a new house, to buy a used car or to make some other large purchase. It’s a good idea to separate the money that you use each month for paying bills, buying groceries and getting gasoline from the money that you are trying to save. It increases your success in saving! A Christmas Club Savings Account helps you to put aside a little bit of money each month toward holiday shopping the next year, making it easier to have the kind of holiday celebration you want without totally going broke or relying on credit cards.
Because St Anne Credit Union in New Bedford moves the money over to your Main Share Checking Account automatically during the first week of October, you don’t have to make time to come in to our branch to move or get your money. In fact, you can see it all in our online banking member guide, check your balances and even transfer additional funds to your Christmas Club savings account throughout the year. When you join St Anne Credit Union, you get a whole host of opportunities that you can use to your advantage to help save money, make the purchases you want and take control over your finances.
Join St Anne Credit Union in New Bedford
If you are interested in learning more about our options for saving – including our Christmas Club Savings Account, give us a call at 508-993-0011 or visit our local branch on Union Street in New Bedford, Massachusetts. Our credit union is open to anyone who works or lives in Plymouth and Bristol counties in Southeastern Massachusetts. Take a look at our options via our website, browse our online banking member guide and read our blog for even more tips that will help you to grow your money at our credit union in New Bedford.