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News Now

CU System
BBB promoting holiday clubs with CUNA stats
DALTON, Ga., and FORT WAYNE, Ind. (1/14/10)--The Better Business Bureau (BBB) is promoting Christmas Club accounts and using Credit Union National Association (CUNA) statistics to show credit unions’ participation. Georgia and Indiana newspapers have picked up the story, also using CUNA stats. Christmas Club accounts are traditionally offered at credit unions or small banks. They allow consumers to set aside money throughout the year into a savings account. Consumers can withdraw the funds in the fall to buy items for the holidays. The Dalton Daily Citizen (Jan. 12) and the Fort Wayne News-Sentinel (Jan. 11) noted that about 78% of credit unions offer the clubs, according to CUNA. Interest in the clubs spiked in 2009, the newspapers said. The BBB recommends that consumers “shop around” for their Christmas Club accounts. Interest rates may vary, the News-Sentinel said. Retailers also have begun offering the clubs.


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