Members’ savings lead to generous holiday budget
Many Dupaco members will have a generous holiday budget this season, thanks to systematically saving throughout the year.
Through the credit union’s popular Holiday Club savings account, 5,585 participating members saved a record-setting $5.8 million-plus. Members received their savings and dividends Oct. 30.
The average Dupaco member saved $1,042.
In October, Dupaco members boosted their financial well-being by nearly $10.3 million through the payouts of Dupaco’s Holiday Club savings accounts and Thank Use.
Record savings for holiday budget
The amount saved was the highest in the history of Dupaco’s Holiday Club—and more than $673,000 over last year’s savings.
The Holiday Club started in 1954 to promote thrift and help members save for holiday expenses.
Members traditionally open a Holiday Club in November. Members can make automatic deposits to their account weekly or biweekly throughout the year. At the end of October, participating members receive all savings, plus accumulated dividends, automatically.
Through the credit union’s Holiday Club, participants learn the art of thrift and avoid a post-holiday debt burden, said Dupaco President and CEO Joe Hearn.
“The habit of systematically saving money is a core principle of Dupaco,” he said. “Thrift by way of a Holiday Club account, which also earns daily dividends year-round, better prepares members when the holidays arrive.”
The payout came two weeks after members collected nearly $4.5 million in Thank Use.
Thank Use pays participating members a bonus patronage dividend for using their credit union’s services to boost their financial well-being.
Ready to start shopping?
A budget is key to any successful holiday spending plan.
Check out our holiday worksheet to help you plan—and stick to—your holiday budget this year. Happy shopping!