How does the Christmas Club Savings Account work?

You can make deposits anytime through payroll deduction, automatic transfer, direct deposit, mail, or Online Banking. Withdrawals are not allowed during the year, but around November 1st, your balance is automatically transferred to your Prize Savings account for holiday spending.

Can I make withdrawals from my Christmas Club Savings Account during the year?

No, withdrawals are not allowed during the year. However, you may close the account at any time without an early closure fee.

What makes Neighborhood Credit Union different from big banks?

Neighborhood Credit Union is a member-owned, not-for-profit financial institution that prioritizes members over profits, offering lower fees and personalized service compared to big banks.

Can I manage my Christmas Club Savings Account online?

Yes, you can make transfers, set up automatic deposits, and monitor your account through Online Banking and the mobile app.

Christmas Club Savings Account

Save all year and access your funds in November!

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Account Features

Earn a Higher Interest Rate

Only $25 Opening Deposit

No Withdrawals Until November

There's No Early Closure Fee

How It Works

A Christmas Club savings account is an easy way to save for holiday expenses throughout the year — without the temptation to spend it early.

You can make deposits just like a regular savings account, including payroll deduction, automatic transfers, direct deposit, online banking transfers, by phone, or by mail. Many members choose payroll or automatic transfers to build their holiday savings effortlessly.

Because this account is designed specifically for end-of-year spending, withdrawals aren’t permitted during the year. However, you can close the account at any time with no early closure fee.

Around November 1, your Christmas Club balance is automatically transferred to your regular savings account, giving you full access to your funds just in time for holiday shopping, travel, and gifts.

Christmas Club Savings 0.10% APY*
A dedicated savings account to help you save for the holidays!
No withdrawals until November.
Fixed Interest Rate: 0.10%
Minimum Opening Deposit: $25
Minimum Balance to Earn Dividend: $100
Open Account

Ready to join the Neighborhood?

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Save for a Stress-Free Holiday Season

Withdrawal in November

Now you have a place to put your holiday savings without the added temptation to spend it throughout the year.

Higher Interest Rate

Earn a higher rate than a regular savings account! Dividends are paid on average daily balances of $100 or more.

No Early Closure Fee

Earn a higher rate than a regular savings account without locking-down your funds in a certificate of deposit, just in case.

Want to compare savings accounts side by side?

Click the "Compare Accounts" button to explore in-depth.

Compare accounts

Account Type	Summary	Minimum Opening Deposit	APY*	Fees
High Yield Savings	24/7 access to funds, no maintenance fees, access to funds with 3 free withdrawals per month Learn More	$100	2.75% on $10,000 or more	If minimum balance is not maintained. See Rates & Fees page for current fees.
Max Savings	Tiered dividends that grow with your balance, no maximum balance limit. Learn more	$0	0.0% up to 3.05%	More than 3 withdrawals per month will incur a fee. Please see Rates & Fees page for details.
Money Market	Low minimum opening deposit, tiered interest rate, access to funds with 6 withdrawals per month Learn More	$1,000	$1,000-$9,999.99: 0.10% $10,000 & up: 0.10%	If minimum balance is not maintained. See Rates & Fees page for current fees.
60 Month Certificate of Deposit	Low risk, interest rate compounded daily Learn More	$2,500	3.35%	Interest penalty may apply for early withdrawal
Christmas Club	Withdrawals not allowed until funds are transferred into Prize Savings in early November Learn More	$100	0.10%	Early closure fee
Prize Savings	Earn cash and prizes during weekly, monthly, and an annual grand prize drawing Learn More	$25	0.10%	If minimum balance is not maintained and no other loan or deposit relationship exists. See Rates & Fees page for current fees.
Individual Retirement Savings	Save for retirement with a Traditional IRA or Roth IRA Learn More	$100	0.10%	None
Special Savings	Use to separate your funds for special purposes. Login to Online Banking to open online Learn more	$25	0.10%	None
Kid's Savings	For kids ages 0 through 12 Learn More	$25	0.10%	None

Frequently Asked Questions

When will I be able to access my Christmas Club funds?

Each year around November 1st, your Christmas Club funds are automatically transferred into your Prize Savings (or your membership share) account.

How can I make deposits into my Christmas Club?

Treat it just like you would your regular savings account by making deposits through the mail, payroll deduction, automatic transfer, direct deposit, transfers through Online Banking, or over the phone.

What is a Christmas Club Account?

A Christmas Club account is a special type of savings account designed to help you save money throughout the year for holiday expenses like gifts, travel, and seasonal bills.

Unlike a regular savings account, a Christmas Club account encourages consistent saving by limiting access to the funds until the end of the year. You can make regular deposits—often through automatic transfers or payroll deduction—so your holiday savings grow steadily over time.

Typically, the money you save is automatically transferred to your regular savings account around early November, giving you access to your funds just in time for holiday spending. Christmas Club accounts are commonly offered by credit unions and are a simple, disciplined way to plan ahead and reduce financial stress during the holidays.

*APY = Annual Percentage Yield. Rate effective as of October 1, 2025 and is subject to change after account opening. Please see the Truth-In-Savings Disclosure.