Christmas Club Account - Members Heritage

Q: What is the minimum deposit required to open the holiday savings account?

Our holiday savings account requires a minimum deposit of just $5 to open.

Q: What happens if my balance exceeds $2,500? How does the dividend rate change?

Balances up to $2,500 earn a dividend rate that is 1.00% higher than our Current Share Rate. Any amount over $2,500 earns dividends at the standard Current Share Rate. This means your account earns a blended rate depending on your balance.

Q: What happens if I need to make an early withdrawal? Are there any early withdrawal penalties or fees?

There is a $10 penalty for early withdrawals from your Christmas Club Account.

Q: Is there a way to automate deposits or set savings goals specifically for holiday expenses?

Yes. You can use MHCU’s Round Up Savings Program, which rounds up your ATM/debit card purchases to the next dollar and deposits the difference in an assigned savings account. You can also set up a direct deposit or a recurring transfer from your regular MCHU Savings or Checking Account.

Use Accrued Interest for Holiday Purchases

With presents, parties, and travel to visit with family and friends, the holidays can quickly become the most expensive time of year. And, charging your spending can lead to unfortunate credit card debt come the new year.

Luckily, Members Heritage has an easier way to save for the holidays, so you can avoid budget-busting spending. The Members Heritage Christmas & Holiday Club Account* offers a higher dividend rate than our Regular Savings account.

Low $5.00 minimum opening balance.

Deposits can be made by payroll deduction. Dividends are calculated on average daily balance, paid quarterly.

Dividend rate (on balances up to $2,500) is 1.00% above the Current Share Rate.

Dividend rate (on balances over $2,500) is at our Current Share Rate.

No annual fee.

Early Withdrawal Fee – $10.00.

Your entire account balance is then deposited into your primary Regular Savings Account (or another designated account) on October 1st, just in time for holiday shopping.

Members Heritage Membership Benefits

Becoming a member of Members Heritage Credit Union means more than opening an account; it’s joining a community that’s committed to your financial well-being. Enjoy access to valuable benefits that support your goals, build financial security, and help you plan with confidence.

24/7 Digital Banking Services

Manage your finances anytime, anywhere with our user-friendly mobile app, online banking, eStatements, and mobile check deposit features.

Better Rates for Saving and Borrowing

Whether you’re borrowing or saving, enjoy low-interest rates on personal, auto, and mortgage loans, plus competitive annual percentage yields (APYs) on savings accounts.

Exclusive Member Discounts

Get special offers and discounts on various products and services, including entertainment, travel, and more, through our partnership with Love My Credit Union Rewards.