Set aside funds for the holidays!
Give yourself a head start on the holidays by preparing for all of those added expenses with our Christmas Club account. By depositing a set amount each paycheck, you can spread extra holiday cheer!
Each year, on October 1st, balances are automatically transferred into the account of your choice where they can be easily withdrawn. If deposits are set up automatically, they will continue without interruption building your balance again for next year.
Here’s what our Christmas Club offers:
- Earns 0.15% APY* on balances over $105
- No monthly fees
- Start saving anytime, no required start date
- Make automatic deposits at any amount and frequency
- Make additional deposits in Online & Mobile Banking
- Your balance will automatically transfer the account of your choice on October 1st.
What's the advantage of saving in a Christmas Club vs a Regular Savings?
A Christmas Club has a few features that makes it special. The first is that your funds will automatically transfer to your spending account just in time for holiday shopping. The APY on this account is slightly higher than our Regular Savings because there is a penalty fee for early withdrawal. The early withdrawal fee's purpose is to encourage you to keep your funds saved all year, so you have a good amount on hand for the holidays.
Ready to open your Christmas Club?
Want to open your account with funds already at RiverLand?
Call us or send us a message in Online Banking.
*APY = Annual Percentage Yield. Savings rates are subject to change without notice. Restrictions and limitations apply. Call for details.