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About The daily Nebraskan. ([Lincoln, Neb.) 1901-current | View Entire Issue (Dec. 4, 1981)
r thursday, dccembcr 4, 1981 Christmas supplement to the daily nebraskan page 5 Bank Christmas clubs offer good way to save By Melincla Norris Christmas clubs arc a good way to save money whether its for Christmas or not, say some Lincoln banking officials. Some bank customers open an account to save for a trip or income taxes, said Sue Iliatt, vice president of operations at Gate way Hank. "It's easier to have an account they can't touch and have it for Christmas," Iliatt said. "It's a good way to put money away, as opposed to a regular savings," said Pat Young, senior vice president, director of marketing at First Federal Lincoln. Christmas club accounts arc increasing each year, Young said. First Federal Lincoln sent checks to its Christmas club savers totaling $35,000 at the end of October for this Christmas, Young said. This amount includes 5' per cent interest. The Christmas Club accounts are left open willi a zero balance, Young said. Savers can start a Christmas account at anytime, although First Federal began its promotion at the beginning of November for Christmas 1()82. No minimum required No minimum is required to join the club, Young said, although for opening an account with $50, the saver receives a Currier and Ives pic plate. Additions can be made to the account at any time, for any amount, she said. First Federal will also transfer funds from a customer's checking account to their Christmas savings. The amount of money saved by Christ mas club members ranges from a dollar a week to $100 a month or a lump sum of $200, Young said. Christmas club members at the National Bank of Commerce save within a similar range, said Vice President Larry Nelson. NHC offers a Christmas club to its savers similar to the one at First Federal Lincoln, paying 5' annually. The balance and inter est mailed to Christmas club members by Nov. 1 was approximately $2,000, Nelson said. The number of people choosing to save in Christmas club programs is rising. Nelson said this increase may be due to the declin ing economy. Christmas clubs increase Christmas clubs have experienced a "pretty stable increase, but nothing signi ficant," he said. "The economy has caused people to put a little more money aside each year." If people arc going to buy the same types of presents and the same amount, they arc going to cost more." Nelson said he has a Christmas club account and deposits about $5 more a month than last year "to keep up with in flation." Lane Heist, savings officer at the Ameri can Charter downtown branch said, "The public is better educated as far as financing goes. People are saving more, especially when the interest rates go up." American Charter offers a Christmas club, paying SVi percent interest. The Gateway Hank has a more structur ed Christmas club compared to First Fed eral, NHC, and American Charter, encour aging members to make deposits on a regular basis. Gateway offers an automatic transfer ol funds from checking into a Christmas club account by withdrawing a fixed amount for 10 months starting Jan. 15. Savers can also make weekly payments with a coupon book, worth $50 to $1 ,000, Iliatt said. Coupon book savers start in November, and all checks are mailed by Nov. 1. The $250 book is the most popular Iliatt said. FREE GIFT (Tlero) Christmas from Hobby Town Bring in this ad and get a FREE crystal D & D Dice. Remember we have Gift Certificates too! HOBBY TOWN East Park mall 66th & O 464-2858 Limit One Per Customer ,Y? Expires 12-12-81 fW- 134 N. 13 476-3829 gokks For The Preppy Look 9 Colors BANANA, COPPER, MAPLE, DEMI-AMBER PEACH, WINE, BLUE, REAL RED, LAVENDER DO CULARUM XX) 5640 South Street 483-2608 f ElfflTOE STORES I ON DECEMBER 10TH ONLY! I v &i Bffl1 II kvfV NEBR. Union Jy Sat.. 9 12 TEXTBOOKS NOT INCLUDED
