Authored by Michele Miller, 23 years with ECU Credit Union. “Alone we can do so little, together we can do so much.” – Helen Keller Working as a team with our members, we assist them to achieve financial health. This is why I enjoy working at ECU Credit Union
Do you look for ways to stash away money for the holiday season and safeguard that money from yourself? Then yes, a Christmas Club is still a good idea.
Christmas club accounts were established at the time of the Great Depression as a tool to save for the holidays. It is a short-term savings account with a restriction. If you withdraw the funds before the payout date, you pay a penalty. The payout date at ECU Credit Union is September 30th. Members are able to withdraw from their ECU Christmas Club account from October 1 through January 31 with no penalty.
Perhaps you want to save $500 by December 1? If you start saving in September, you could put aside about $42 a week to reach that goal.
With auto-deposit, you set aside money without having to think about it. When it’s time to start spending, you’ll have built a nice pot of fun money with minimal effort. Ready to shop for decorations, gifts, party supplies or plan that holiday travel.
If time and funds are short, ECU also offers Holiday Loans and Visa Credit Cards. Apply now to plan for that Black Friday shopping.
How would you spend your Christmas Club payout?
Christmas club accounts were established at the time of the Great Depression as a tool to save for the holidays. It is a short-term savings account with a restriction. If you withdraw the funds before the payout date, you pay a penalty. The payout date at ECU Credit Union is September 30th. Members are able to withdraw from their ECU Christmas Club account from October 1 through January 31 with no penalty.
Perhaps you want to save $500 by December 1? If you start saving in September, you could put aside about $42 a week to reach that goal.
With auto-deposit, you set aside money without having to think about it. When it’s time to start spending, you’ll have built a nice pot of fun money with minimal effort. Ready to shop for decorations, gifts, party supplies or plan that holiday travel.
If time and funds are short, ECU also offers Holiday Loans and Visa Credit Cards. Apply now to plan for that Black Friday shopping.
How would you spend your Christmas Club payout?
