Christmas Club Tips, Info & FAQs
A limited withdrawal Christmas savings account
Having trouble saving for Christmas? This account makes it easy. You can set up automatic transfers to it throughout the year. Your withdrawals are limited, so you’ll be incentivized not to take the money out. You’ll never have to rely on a credit card for Christmas again.
3 Ways to Teach Budgeting During the Holidays
The holidays are a big time for spending, which means they also are a great opportunity to teach your kids a little about budgeting. Here’s three ways to do just that, without coming across like a Scrooge.
1. Talk about why you are NOT buying something
It’s a great idea to talk about some of your own financial decisions while you’re out shopping. You can be very casual about this. For example, you might see a pair of pretty shoes at the mall, but explain to your children that you’re not buying them, “because you already spent too much money on your Christmas dress.” These casual interactions set a good financial example.
2. Help your child shop for small gifts
Whether they are using their own money, or a small allowance you give them, you can help your child shop for their siblings or friends. Help them choose a budget, and then pick gift items to buy within that budget. If there’s any money left over, you can discuss together what they will choose to do with it.
3. Compare prices at different stores
Show your child how you find different prices for the same item. For example, if you’re looking for a certain brand of blender for Grandma, you can go online or into different stores and choose the one with the best price. It’s great way to teach them to seek out deals.
When are Christmas Club Accounts paid out?
On November 1 of each year.
How will I receive the funds?
Accumulated funds and dividends earned will automatically be transferred to your United Texas savings account.
Can I make withdrawals on this account?
You can make one withdrawal per year. If you exceed this amount, you will be assessed an Excessive Withdrawal Fee per occurrence.
Does this account earn interest?
Yes, it is calculated on the daily balance and paid on the first day of the following month.
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Christmas Club Rates & Calculator
Information and interactive calculators are made available to you as self-help tools for your independent use. We cannot and do not guarantee their accuracy or their applicability to your circumstances. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Vacation/Christmas Club Account
|Balance of $5 and Over||0.20% APY*|
*APY = Annual Percentage Yield. APY is accurate as of December 1, 2023, and may change after the account is opened. Dividends are calculated on the daily balance during the dividend period and paid to the account monthly. Fees or other conditions could reduce the earnings on the account. Payment of all dividends is subject to the availability of earnings.
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Christmas Club Why United Texas
- Automatic transfers from checking
- You choose the amount
- Restricted withdrawals
- Funds disbursed to you November 1
- The perfect way to save for Christmas
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Christmas Club How it Works
Opening a Christmas Club account with us is fast and simple.
Give us a call, contact us online, or come into any one of our branches.
Join United Texas Credit Union. All you need to do to become a member is to open a $5.00 minimum savings account.
Open a Christmas Club account and choose what amount of money you would like to deposit each month.
Your saved funds will be automatically returned to your savings account on November 1st—just in time for Christmas shopping!
Related Products & Services
* Accounts with withdrawals in excess of the account limits will be assessed an Excessive Withdrawal Fee per occurrence and may be subject to closure by the credit union.