Christmas Club Savings Account

xmas blogAre you tired of the uncomfortable feeling of swiping the credit card for those holiday purchases? Are you concerned because you overspent your holiday budget? Frustrated by having to pay a high interest rate on the credit card balance from your holiday spending? Want to earn 3.33% APY* on a deposit account? If so, we have the solution!

Lake Central Bank’s Christmas Club account is a terrific and simple way to budget for your holiday spending. Earn 3.33% APY* on your savings, and spend the cash you have saved for your holiday purchases.  Here’s how it works…

xmas blog2When you open a Christmas Club account, we set up an automatic transfer of up to $300 per month from your Lake Central Bank checking account to your Christmas Club savings. This savings will accumulate and earn an interest rate of 3.33% APY*.  The balance in the account will be paid out yearly on the next business day following the November 15th interest payment.

Also, consider using the Christmas Club savings as a way to save and plan for your winter vacation.  Whatever you’re saving for, Christmas Club savings is a great way to change your spending pattern from charging it and paying a high rate of interest, to saving it, and earning at a rate above the market.

What are you waiting for? With only 344 days until Christmas, now is the time to open your Christmas Club account and make this year’s holiday shopping season your best ever!

If you have any questions or need additional information, contact a Personal Banker today at 320-274-8216.

* Annual Percentage Yield (APY) effective 05/01/11.  Rates subject to change without notice.  $5.00 minimum weekly deposit required.  Fees could reduce earnings.  Restrictions apply. Member FDIC