GSB Savings Clubs Make Managing Holiday Money a Breeze
by Madelyn McConnell
August 21, 2019
If you have visited any major retail store in the last few weeks, you have probably rolled your eyes that Christmas stuff is already out! Somehow, we went from Independence Day to Black Friday, but the fact is, vacation season is wrapping up, and Christmas is less than 4 months away. With U.S. citizens expected to spend just under $900 for gifts this year, Christmas just got a whole lot closer. And honestly, next summer isn’t that far off, either
Fear not! Grand Savings Bank Christmas and Vacation Club accounts are available.
By putting back a little now (at an interest rate and Annual Percentage Yield (APY)* of .50%, no less) that end-of-the-year scramble to juggle holiday expenses or run up credit card debt just got a little easier. The same goes with next summer’s vacation; save a little now, and that trip you’re thinking about taking becomes much more do-able. GSB Savings Club accounts are also an awesome way for kids to learn about budgeting and planning.
You can open your Christmas Club or Vacation Club account at any GSB location at any time with a minimum opening deposit of $10.00. Interest is paid at maturity on balances over $50.00. Deposits can be made at any time, and flexible deposit plans can also be set up. Christmas Club accounts disburse in November each year, and Vacation Club accounts disburse in May. Statements will be mailed after disbursement. Partial withdrawals are not allowed, and a $10 penalty will apply if the account is closed before maturity. Interest will be lost if accounts are closed before the maturity date.
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*The interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on the account at any time. Annual Percentage Yield is current as of 8-13-19.