Savings Accounts

Make Holiday Spending Simple with a Club Savings Account

A Holiday Club Account helps you save for seasonal expenses throughout the year. No fees, no stress — just smart saving with automatic payouts before the holidays.

What is a Holiday Club Account?

A Holiday Club Account is a specialized savings option designed to help you prepare for end-of-year spending. You make small, regular deposits throughout the year, and the entire balance — plus interest — automatically paid out the first Monday in October to an account of your choosing, just in time for holiday shopping or travel.

This account charges no monthly maintenance fees and has no minimum deposit requirement to open. To encourage disciplined saving, funds are not accessible until the designated payout date. Early withdrawals are permitted but incur a $15 penalty.

Perfect for families, individuals, or anyone who wants to reduce financial stress during the holidays, this account is simple, secure, and predictable. It pairs well with your Universal Savings Account
or Prime Savings Account as part of a broader financial strategy.

Open to all eligible members, a Holiday Club Account is a smart tool for budgeting joyfully — without dipping into your main savings.

No Monthly Maintenance Fees

Automatic Annual Payout

No Minimum Deposit Requirement

man on phone and laptop opening bank account

How to Open a Holiday Club Account

Opening your Holiday Club Account is simple and stress-free, with the option to apply online or at your local branch.

Apply online or visit a branch to open your account
Provide your photo ID and Social Security Number
Make your first deposit by cash, check, or transfer
Set up automatic transfers to save throughout the year
Track your balance online and prepare for your holiday payout

Average Monthly Balance	Interest Rate	APY
$1.00 and up	0.05%	0.05%

Average Monthly Balance

Interest Rate

APY

$1.00 and up

0.05%

Rate and APY are variable and are subject to change after the account is opened. APY is accurate as of today’s date. Minimum to open a regular account is $1.00. Fees may reduce earnings. APY=Annual Percentage Yield

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Frequently Asked Questions

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No, there is no minimum balance requirement to maintain a Holiday Club Account, making it accessible for all members regardless of income. You can start saving with no minimum deposit requirement to open the account and contribute at your own pace throughout the year. It’s a simple, no-pressure way to build a budget for holiday expenses.

Holiday Club Accounts are designed to help you save steadily for the holiday season. While funds are meant to remain untouched until the payout period, you may make an early withdrawal if needed. However, doing so will incur a $15 penalty. This feature encourages you to stay on track with your savings goals and keep your holiday funds intact.

This account doesn’t offer cash-back rewards like some checking options, but the benefit lies in its simplicity and purpose-driven structure. You’ll earn interest throughout the year on your contributions, which is then included in your end-of-year payout. It’s a hassle-free way to grow your savings with minimal effort.

While the account is typically held under one member’s name, family members or friends can contribute through deposits or transfers. This makes it a great option for couples or parents saving for shared holiday expenses. However, only the account holder will have management access.

Holiday Club payouts are automatically transferred to your account of choice the first Monday in October. You’ll be notified in advance so you can plan accordingly. The full balance plus any earned interest will be deposited, giving you immediate access for shopping, travel, or end-of-year expenses.

Yes, setting up automatic deposits is one of the easiest ways to grow your Holiday Club Account throughout the year. You can schedule recurring transfers from your checking account or even direct a portion of your paycheck into your account through direct deposit.

Automating your contributions ensures consistent savings without needing to think about it. Whether you choose weekly, bi-weekly, or monthly deposits, the process is flexible and fully customizable to fit your budget.

This approach helps you build your holiday fund gradually and painlessly, so when the end-of-year payout arrives, you have a financial cushion ready to go. You can set up automatic transfers through online banking, the mobile app, or with the help of a team member at your local branch.