Holiday Club

Are you looking for a better way to plan ahead for holiday expenses?

Do you struggle to set aside money throughout the year?

A Holiday Club Loan may be just the trick you need for a less stressful, more magical holiday season!

Everything on your Wish List

With a Holiday Club Loan, you can:

• Set a budget. Decide how much you want to set aside for hosting parties, giving gifts, or traveling next year.
• Automate your savings. Make automatic, monthly payments toward a fund that you can't touch until your goal is reached.
• Boost your credit. Each on-time monthly payment will add positive history to your credit report. It's the gift that keeps on giving!

How does it work?

Holiday Club Loans are an easy, low-cost way to reach a savings goal at the same time as you improve your credit. 

1. You get a small loan at a low interest rate - fixed at just 3.95% APR.*
2. Proceeds from the loan go straight into a separate, restricted savings account that is frozen until your loan is paid down.
3. Each month, you make a loan payment to the credit union, and we report your activity to the credit bureaus. For best results, we strongly recommend scheduling automatic transfers from your checking account. 
4. Once your loan is paid off, the money in your savings account is unfrozen. You now have a savings stash with the same amount of money as the original loan amount!

How much does it cost?

Super low interest rates make this loan very inexpensive to use. Here are some examples:

Savings Goal: $800 in 9 months

• Your monthly payment will be $90.36**
• You will pay a total of just $13.22 in interest**
• We charge a small Loan Documentation fee of $15 at the time the loan is opened. There are no application fees, and no prepayment penalties if you pay early.

Savings Goal: $1,000 in 6 months

• Your monthly payment will be $168.59***
• You will pay a total of just $11.55 in interest***
• We charge a small Loan Documentation fee of $15 at the time the loan is opened. There are no application fees, and no prepayment penalties if you pay early.

*APR is Annual Percentage Rate. Subject to credit approval.

**Calculation based on nine (9) on-time, monthly payments.
***Calculation based on six (6) on-time, monthly payments.

All Credit Union loan programs, rates, terms, and conditions are subject to change at any time without notice. Contact us for current rates, terms, and conditions.