Christmas Club Savings Account
Earn a Higher Interest Rate
Only $25 Opening Deposit
Withdrawals Are Not Allowed
There's No Early Closure Fee
How It Works
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. Keeping in mind that since this savings account is specially designed to help you save for the holidays at the end of the year, you are not allowed to make withdrawals during the year (but you can close the account with no early closure fee).
Around November 1st, your funds are then transferred to your membership Prize Savings account to access for your holiday spending!
|A dedicated savings account to help you save for the holidays!|
|Fixed Interest Rate: 0.10%|
|Minimum Opening Deposit: $25|
|Minimum Balance to Earn Dividend: $100|
Already a member and want to open this account online?
If you are already a member of Neighborhood CU and you would like to open your Christmas Club account online, please log into your Online Banking account and look under the Additional Services tab.
No Withdrawals Allowed
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.
Frequently Asked Questions
Each year around November 1st, your Christmas Club funds are automatically transferred into your Prize Savings (or your membership share) account.
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.