Holiday Club Accounts
February 2025
The holidays can create a large financial burden for families so it’s important to plan ahead and save. That’s where Holiday Club accounts come in! What are they though?
What’s a Holiday Club?
The name “Holiday Club” sounds like a lot of fun, but essentially it is a special savings account designed to help you save for the holiday season. Like most savings accounts you put funds aside, but a Holiday Club will automatically transfer the balance back to you in October – just before the holiday shopping season gets started!
You can put money in whenever you like, or set up a recurring transfer when it’s convenient to you. Over the course of the year the balance builds, and then in the fall the balance gets transferred back to your checking account, or other account of your choice.
Benefits
- Helps you budget and plan ahead
- Automates your savings so you don’t have to think about it
- Account balance will automatically transfer to one of your designated accounts in October
- No monthly maintenance fees
