Dupaco’s Holiday Club pays off: Participating members systematically save more than $5.9 million

DUBUQUE, Iowa—Systematic saving will pay off for Dupaco Community Credit Union members this holiday season. Through the credit union’s popular Holiday Club savings account, more than $5.9 million was saved throughout the year. On average, each participating Dupaco member saved $1,120.80.

The Holiday Club is a savings account to help members save for the holidays by regularly transferring money into the designated account throughout the year. This approach helps members stay on track, with funds automatically transferred to their checking accounts on Oct. 31, just in time for the holidays.

“Through the credit union’s Holiday Club, participants learn the art of thrift and avoid post-holiday debt,” says Dupaco President and CEO Joe Hearn. “The habit of systematically saving money is a core principle of Dupaco. Thrift, by the way of a Holiday Club account that earns daily dividends year-round, better prepares members for the holiday season.”

In addition to the Holiday Club, Dupaco provides other tools to help prepare for the holiday season, including a holiday budget guide to help keep costs down. This holiday budget guide can be found here: https://www.dupaco.com/personal/savings/holiday-club-account/#budget.

Dupaco provides the following holiday spending tips ahead of the holiday shopping season:

• Draw names with a gift exchange. A gift exchange allows you to spend a little more on the recipient—but still spend significantly less than you would if you were buying for several people.
• Don’t wait until the last minute. Planning ahead for your holiday spending gives you the opportunity to bargain hunt and wait for the “deal of the day” so you can spend less for the same item.
• Sign up for emails. Sign up for a store’s loyalty program or subscribe to receive store emails. These emails can provide some great discounts and let you know when sales are happening.
• Remember the spirit of the holidays. Spend time with each other and give from the heart. Maybe you give a small gift but package it with a heartfelt card. Or, give the gift of an experience.

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About Dupaco Community Credit Union

Dupaco Community Credit Union is a not-for-profit, member-owned financial cooperative headquartered in Dubuque, Iowa. It is dedicated to the financial well-being of its members, and specializes in personalized financial counseling, money advice and education. It offers savings, loans, investments, insurance and wealth management products for individuals and businesses. Dupaco serves residents in 118 counties throughout Iowa, northwest Illinois and southwest Wisconsin. Founded in 1948 by ten Dubuque Packing Company employees, membership has grown to more than 170,000 with assets exceeding $3.3 billion. It has over 600 employees and 23 branch office locations. Dupaco is a Community Development Financial Institution (CDFI). It is a Forbes Best-in-State Credit Union, Forbes America’s Best Small Employer, and a Des Moines Register Top Workplace. Learn more at www.dupaco.com.