Christmas and Holiday Savings Account FAQ
Q: What is the minimum I can save in a Christmas and Holiday Savings account?
A: Using the special savings account option at Arbor Financial, you can save as little as $5, with a lower limit of $100 to earn a monthly dividend. You may save as much as you like.
Q: Why do people use Christmas and Holiday savings accounts rather than regular savings accounts?
A: For many people, managing an account dedicated to a particular financial goal is a helpful motivator for saving money. Opening a special holiday savings account can provide the extra motivation you need to get over the savings hump and enjoy the holiday of your dreams. Think of it as putting a down payment on great memories.
Q: How helpful are Christmas and Holiday savings accounts?
A: They’re incredibly helpful. Our Christmas and Holiday savings accounts keep you disciplined and committed to your goals. With a little put away each month, you can have a significant amount saved by the end of the year. Add to that our competitive rates and limited monthly transactions, and you’ll see your money grow faster than you thought possible.
*Annual Percentage Yields (APYs) earned on Arbor Financial Credit Union's savings programs are calculated by the daily balance method. For savings accounts, dividends are compounded and paid quarterly. Dividend rate and APY may change at any time as determined by the Board of Directors. APY shown is for the 1st quarter of 2020. **Balances of $100.00 or more earn a dividend. A minimum balance of $5.00 is required to maintain membership. ***A minimum balance of $5.00 is required to maintain membership.