JHFCU helps you prepare for the holiday season, which often means extra costs for gifts and food. With our Holiday Club account you can conveniently save money throughout the year. The account is perfect for those who want to separate some funds from their general savings, and features a fee for withdrawal to discourage you from tapping into it.

How does it work?

You can set up your Holiday Club at any time during the year, but note that it resets each year on October 1, when all funds are transferred to your regular savings. The Holiday Club is a separate “sub-account”, which shows up with a suffix 07 in your statements and Online Banking, so that you can accumulate savings without having the temptation to withdraw. The account pays the same dividend rate as our Share Savings account.

You can add to the Holiday Club at any time, and can set up convenient Payroll Deductions to the account to add to it consistently throughout the year. There is no limit on the amount you can add. You can also make transfers via Online Banking or TeleBranch24 whenever you wish. The account accumulates with your deposits and dividends earned, through September 30th of each year. On October 1, the account matures and all proceeds are transferred to your regular Share Savings, where you may withdraw them. The Holiday Club will not automatically close; if you have Payroll Deductions set up, they will resume with your next payroll in October and begin the cycle of funding the account again. If you wish to discontinue the deductions, you will need to contact JHFCU and complete and submit a new Payroll Deduction form.

What if I need to withdraw?

If you need to make a withdrawal during the year, you may do so at a branch and as noted above, there is a fee for early withdrawal. You cannot transfer from the Holiday Club via Online Banking or TeleBranch24.

How do I start?

Visit a branch, or see a JHFCU representatives at one of our site visits to add the Holiday Club and/or to set up Payroll Deductions.