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Routing Number:  051403957

Christmas Clubs

Photo of young girl holding Christmas packagesChristmas Clubs earn a competitive rate and provide an excellent avenue to save for the most wonderful time of the year!  Call or visit a local office for more details.

Here is how it works:

  • Sign up for a Christmas Club by making an initial deposit
  • Two forms of identification (including one picture ID) are required to open account
  • Deposit equal payments into the account throughout the year
  • Interest will accrue on the outstanding balance during the entire period
  • If the Christmas Club is paid up entirely by the cutoff date, all interest will be paid
  • In late October, a check will be issued representing the full balance plus interest on completed clubs

 

DISCLOSURE OF ACCOUNT TERMS


Rate Information

  • The interest rate will be set prior to the date designated to begin opening clubs each year
  • Account options are weekly coupon payments or monthly automatic drafts
Account Type Coupon Book Automatic Draft
  # Pmts Pmt
Amt
# Pmts
Pmt
Amt
$250 Club Account 50 $5 10 $25
$500 Club Account 50 $10 10 $50
$1,000 Club Account 50 $20 10 $100
$2,000 Club Account 50 $40 10 $200
  • All payments must be made prior to the cutoff date in October
  • Interest begins to accrue on the business day you deposit non-cash items (for example, checks)
  • Interest is compounded daily and credited on completed clubs only
  • If a club is closed before the cutoff date, the accrued interest will not be credited

Eligible Account Holders:

  • Individuals
  • Nonprofit Organizations
  • Trust Accounts
  • Sole Proprietorships
  • Partnerships
  • Corporations

The daily balance method is used to calculate the account interest. This method applies a daily periodic rate to the principal ledger balance in the account each day.

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