There won’t be as much Ho-Ho-Ho without enough dough-dough-dough. That’s why many ALEC members establish a Holiday Club Savings Account.
It’s a smart, easy way to put money aside earlier in the year, so that when the holidays roll around, you’ll be rolling in cash.
Features of our Holiday Club Savings Account:
- Make your holiday saving easier by setting up automatic withdrawals from your paycheck or automatic transfers from your Checking or Savings account
- Dividends are paid monthly
- All proceeds are distributed on November 1 in advance of the holidays
- 24/7 account access via Online Banking, Mobile Banking and Telephone Banking
- Also access your holiday account via ATM, by mail or at any ALEC Service Center
- View your account on E-Statements
Your savings are safe.
Nothing is more important to us than protecting your money. All ALEC accounts are insured up to $250,000 by American Share Insurance (ASI), the nation's largest private deposit insurer.
|Account Type||Nominal Rate||APY*|
|Savings Account||0.499 %||0.30 %|
|Holiday Club Savings||0.499 %||0.30 %|
*The Annual Percentage Yield is the rate that is earned if the funds are left to compound for one year. All dividends are paid monthly based on the daily average balance. Rates subject to change monthly. A $25 penalty may be imposed on an early withdrawal of a Holiday Club. Holiday Club funds will be transferred into a members savings account on November 1st. The nominal rate is the rate used to calculate the monthly dividend.