North London Credit Union | Christmas Savings Account

Christmas Savings Account

Put money aside for that special day

The Christmas Savings Account allows members to put money aside in advance of the special day

By opening a Christmas Savings Account, members can focus less on how they are going to pay for all their festive goodies and more on how they’re going to enjoy a debt-free Christmas with the people they love most.

Easy to set up
Savings safely locked away
Save any amount from £5 upwards

Regular deposits can be made by payroll deduction or direct debit
All funds protected by the FSCS scheme
£5 early-withdrawal penalty to deter members taking money from account before October
Potential annual dividend on savings

This account allows members to put money aside well in advance for Christmas

Members can either allocate a portion of their current deduction, or increase it to cover the amount they want to go towards the special day. Saving a small amount each pay day soon adds up.

Savings are safely put aside, ready for withdrawal from October 1 to the end of February. Any withdrawals outside this time will incur a £5 charge to deter members from dipping into their Christmas Savings Pot!

To apply for our Christmas Club, phone the North London Credit Union office today on 020 8366 8244.

Financial Services Compensation Scheme

All accounts benefit from our participation in the Financial Services Compensation Scheme (FSCS).

The FSCS can pay compensation to depositors if a credit union is unable to meet its financial obligations. Most depositors – including most individuals and small businesses – are covered by the scheme.

For further information about the scheme (including the amounts covered and eligibility to claim) please call us on 0141 445 0022 or ask at your local branch, refer to the FSCS website or call 0800 678 1100 or 020 7741 4100.