Our Christmas Saver Account is a popular way to save for the festive season. The account is 'locked' until November 1st, when you can withdraw your savings and do your Christmas shopping.
Our members appreciate having money to treat the family at Christmas without worrying about unpaid bills in the New Year. Many also save a little extra to treat themselves in the January sales, or top up their savings with a small loan. You can choose whether to save a regular amount or just squirrel a few pounds away whenever you can, and you can withdraw the money any time between November 1st and 31st December.
Our Christmas Saver Account is the safe way to save. In 2006 the collapse of the Farepak hamper company caused heartache to many families just weeks before the festive period. It also revealed that most hamper companies were not members of the Financial Services Compensation Scheme, so depositors had no guarantee of getting their money back if things went wrong. Christmas Clubs have always been a risky option, and members have lost money they have saved with local pubs and societies. Like many Credit Unions, we decided it was time to offer a safe and convenient alternative.
Since 2007 our Christmas Saver Account has grown in popularity every year. The Christmas Saver Account earns the same dividend as your other savings with Gateway (0.25% in 2017-18) and has the same life insurance cover. The appeal of the account is that you can't dip into it during the year. If you need to access your Christmas savings early we require 60 days notice.
To open a Christmas Saver account complete the form and send it to us by post or bring take it in to one of our offices with at least £5 to open the account. You can choose to pay in by any of the methods we offer, whatever suits you. You can even opt to split your regular payment between your Christmas Saver and other accounts. To open a Christmas Saver Account you must already be a Gateway member. To join, click here.