The Blog
Avoid Holiday Debt With A Christmas Club
News
Jul. 06, 2022
You’ve opened all your gifts, wrapping paper covers the floor, and you realize “I need to pay for all of this.” The holidays suddenly feel a lot less jolly.
At Farmers & Merchants Bank we offer an easy and effortless solution to preparing for the holidays and the costs that come with them—a Christmas Club Savings Account. A Christmas Club is a short-term savings account that encourages customers to set aside money for the holidays. There is no minimum balance, no penalties and it earns interest. To ensure you properly save, set a direct deposit from every payday to your Christmas Club. For example, if you set aside $50 from every paycheck (at 26 paydays) for 1 year, you’ll have $1,300 for Christmas.
Opening a Christmas Club Account helps consumers prepare for the holidays and manage their finances better than they otherwise might. Accounts are set-up to direct deposit Christmas Club funds into an account of your choice every October.
Ready for a “set-it-and forget-it account”? Open a Christmas Club with us today.