Christmas Club Savings Account
Account Features
Earn a Higher Interest Rate
Only $25 Opening Deposit
No Withdrawals Until November
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!
Christmas Club Savings0.10% 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 |
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.
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.
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| 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
|
$10,000 | 3.00% on $10,000 or more | If minimum balance is not maintained. See Rates & Fees page for current fees. |
| Money Market |
Low minimum opening deposit, tiered interest rate, access to funds with 6 withdrawals per month
|
$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
|
$2,500 | 3.25% | Interest penalty may apply for early withdrawal |
| Christmas Club |
Withdrawals not allowed until funds are transferred into Prize Savings in early November
|
$100 | 0.10% | Early closure fee |
| Prize Savings |
Earn cash and prizes during weekly, monthly, and an annual grand prize drawing
|
$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
|
$100 | 0.10% | None |
| Special Savings |
Use to separate your funds for special purposes. Login to Online Banking to open online
|
$25 | 0.10% | None |
| Kid's Savings |
For kids ages 0 through 12
|
$25 | 0.10% | None |
*APY = Annual Percentage Yield
Membership
Read more about what it means to be a member of a credit union, how it works, and how it benefits you.
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.
*APY = Annual Percentage Yield. Rate effective as of October 1, 2024 and is subject to change after account opening. Please see the Truth-In-Savings Disclosure.