Christmas clubs... remember those?

[yuiyoshida]

Do banks even do that anymore? I remember putting money in a Christmas club in January and by December of the next year I would have money to spend on Christmas gifts. The thing was, you could earn INTEREST which would make your Christmas club better.. but now a days if you walk into a B of A and ask for a Christmas club, they will tell you to check the Sporting Goods store...

what ever happened to that? Do Any banks do that anymore? Of course there never is any interest, because of bank HIDDEN FEES....GOD SAVE THE HIDDEN FEES!!! ..meh.

I have had accounts run out of money, due to hidden fees. Not just B of A... so anyway my question is do any banks do that any more?

Most people tell you, that is not even feasible... Who here has used a Christmas Club in years gone by... Are there any banks offering them today? I am betting, that is a big no.

[onethatcares]

1. old enough to remember them, and bank books too.

nowadays, you get no interest on savings, especially small accounts/amounts.

What my wife and I have managed to do is open a savings account at our credit union and we put small amounts of dinero in
in throughout the year, using it in December to buy presents for the kids.

As far as making 5%. that's no longer feasible for those banks getting free money from the fed.

[AlinPA]

2. My wife has one at the local bank. She has had one since we were married.

[yuiyoshida]

3. Its nice to see a local bank is doing that...

but i wonder if they are holding them over for their long term customers...can new customers get one?

[femmocrat]

4. I do.

They would even give you a nice gift for opening an account. Those were the days....

[politichew]

5. The state of Kentucky offers their employees a Christmas club account. nt

[yuiyoshida]

6. Their employees?

Wow, but guessing the rest of the State has no banks that do that?

[madinmaryland]

7. Yes. The Credit Union I am a member of has Christmas accounts.

Not sure that interest of .5% per year is much to brag about, but at least you can stash some money away.

[Kaleva]

8. A local bank where I have an account does that.

"Christmas Club Accounts

Minimum to open $5.00
Unlimited deposits, any amount allowed
Competitive rate of interest paid annually
Penalty for early withdrawal
"

[yuiyoshida]

9. Its amazing that a local bank will do that or a credit Union

But Wells Fargo? B of A. No, they won't do it.