It’s never too early to start thinking about next year, especially when it comes to paying for holiday gifts.
Starting right now, several local banks offer Christmas Club accounts in which you save money throughout the year and then get the money back in time for holiday shopping.
So, instead of trying to stretch those December paychecks, plan ahead with a Christmas Club account at one of these banks.
American National Bank offers Christmas Club accounts where you make 50 weeks of payments and ANB will make the last one for you.
They start Nov. 15, but never fear, because as long as you make up the payments you missed, the bank will still pay you that last week.
Accounts can be either $5 with a final payout of $250 or $10 with a final payout of $510.
Payments can be mailed in, dropped off or drafted from a current account.
You do not have to have a current ANB account to open a Christmas Club account with them.
Payouts are received in mid-November.
MTC Federal Credit Union offers Christmas Club accounts to account holders.
Members can decide how much is withdrawn from their account each week and can start the Christmas Club account at anytime. On Oct. 1, the money saved will be transferred into your regular savings account.
Citizens Bank offers a 50-week payment plan. When you have made payments for 49 weeks, the bank will make the last payment for you.
Their plans include $2 per week with a final payout of $100, $5 to receive $250 or $10 to receive $500. You can make payments however is most convenient for you, auto debit, drive-thru or in person and you do not have to have a previous account with Citizens Bank.
Also, as long as 49 weeks worth is paid before the November deadline, the bank will make the final payment.
So start planning now for the 2009 holidays by opening a Christmas Club account.
Jennifer Lindsey
221-6526
jennifer.lindsey@ardmoreite.com
