Christmas / Holiday Club Account

Christmas Club, is a savings program where members can make regular deposits into their Christmas Club account and withdrawal the funds annually for holiday expenses. It was designed to help members that find saving for the festive season difficult. Members can either make regular deposits or set up an auto transfer from another ECU accounts or payroll deduction to have the funds transferred from their direct deposit. Come the 1st of October Christmas Club money is transferred into your Prime Share Savings account.

If you manage to deposit just $10.00 into your account each week from the first week of October to the end of September, you will have saved $520.00.  Double your weekly deposit to $20.00 and you will have $1,040 reserved for holiday expenses.  Take the stress out of the holidays with a Christmas Club account.

Christmas Club accounts have the following features:

• Fixed rate  stated dividend of 0.10% is paid on all balances.
• Dividends are paid quarterly based on your average daily balance.
• Quarterly statements.  You may sign up for e statements through Virtual Branch or you will receive a paper statement in the mail.
• Distribution once a year in October  no withdrawal permitted from 1/31 to 10/5.
• Payroll deduction available; minimum $5.00 bi-weekly.

To Open A Christmas Club Account

1. Open an ECU Membership, if you are already a member skip to step 2.
2. Current members: complete an Account Change Card, selecting “Add” under Account Type/Service and “Club” under Account Type also complete all other necessary information on the form.
   New Members: complete the Account Card included in the new member kit, selecting “Club” under Account Type also complete all other necessary information on the form.
3. Complete a Payroll Deduction Card to have your direct deposit money redirected to your Christmas Club account
4. Print, Sign, and mail the completed forms to ECU Credit Union.