Christmas & Vacation Clubs
Christmas and Vacation Club Savings Accounts allow members to save for Christmas and vacation expenses. An initial $5.00 deposit is required to open account.
– Club accounts can be opened at any time throughout the year
– Each account has a specific disbursement date
– Dividends are accrued throughout the year and are paid on the disbursement date
– A penalty fee per withdrawal will be charged for each withdrawal prior to the disbursement date and if you close your account prior to the disbursement date you will lose all dividends accrued.
– Dividends are calculated on the average daily balance
– Christmas and Vacations Club accounts won’t earn dividends if deposit is $5,000 or higher.