Members have discovered Club Accounts to be an easy way to save for vacations or holiday expenses.
Typically, Club Accounts earn a higher percentage yield than a regular share account, but are more flexible than share certificates. Deposits to Club Accounts are unlimited plus Club Accounts have a low $5.00 balance requirement. Financial Horizons Credit Union offers three Club Accounts - Vacation Club, Christmas Club, and Custom Club.
Advantages of a Club Account include -
- No monthly service fees
- Low minimum balance requirement
- Earns interest
- Unlimited deposits
- Deposit by payroll deduction, direct deposit, mail or in person
Another great feature - your Club Account will remain open even after maturity. This allows you to continue to increase your balance or start fresh for the next term depending on which account you choose. Disbursement schedule:
Vacation Club: Year long, disbursed during the first week of June
Christmas Club: Year long, disbursed first week of November