The holidays are quickly approaching, which means you’ll need to get started on your shopping list soon. And while some may enjoy holiday shopping, we understand that it may be overwhelming for others. Whether you like shopping or not, First Mid’s Christmas Club account can at least help you ease the financial stress for next year’s holiday by helping you save now.
Here’s how it works: You can open a Christmas Club account any time between October 16th and January 29th to start saving for 2021, and you will only need $1 to open the account. To make saving easy and convenient, you can have a designated amount taken from your paycheck and direct deposited into your Christmas Club account or set up an automatic transfer from another First Mid account to grow your funds. The money you save all year long will be available when the account matures in October 2021 — just in time for holiday spending next year.
There are no service charges or transaction fees, but there cannot be any withdrawals taken from the account until it matures next October. When the account matures, the balance plus interest will be transferred to another First Mid deposit account of your choice. Then your Christmas Club account renews and you can begin saving again for the next year. It’s an easy way to budget all year long for holiday giving!
Stop by your local First Mid banking center to open an account! While our lobbies are currently closed, you can open an account through our drive-ups or call to make an appointment.