CHRISTMAS CLUB SAVINGS ACCOUNT
Our Christmas Club Account can help take the financial stress out of the holiday season.
A Christmas Club Savings Account at POE Federal Credit Union is a special type of savings account designed to help you save throughout the year so you have funds available for holiday spending (like gifts, travel, parties, etc.) without stress in November. You make deposits throughout the year, and then in November we will send you a check and you can go shopping! So make sure your account information stays up to date.
- Year-long saving plan: Instead of trying to save a large sum right before the holiday season, you deposit small amounts throughout the year.
- Automatic benefit: In early November, the credit union typically distributes the total funds you’ve saved back to you — often as a check — so you can use it for holiday shopping or related expenses.
- Minimum opening deposit: $25.00 to open your Christmas Club account.
- Dividend earnings: The account may earn dividends, but rates can vary and may be low (for example, past rates were listed at 0.00% APY) — check the credit union for current rates.
- Yearly term: The “club” runs from when you open the account until November 1st of that year.
- Early withdrawal considerations: If you withdraw funds before the payout date (before November), you may be charged a penalty fee (for example, $10 per transaction).
For more information, visit one of POE Federal Credit Union’s branches or contact a savings account specialist to get started on your Christmas Club savings account today.