How to Use a Vacation Club Account to Save Money

Minute Read

Going on vacation can be expensive; whether it's a road trip or ocean getaway, it could cost thousands. We’re here to ensure a relaxing, stress-free vacation with our Vacation Club accounts.

What Is a Vacation Club Account?

A Vacation Club account is a savings account with money you set aside specifically for a vacation. It allows you to separate your vacation savings from other savings. With a Vacation Club account, you can save a little each month to reach your goal by the time you set off on your adventure.

Our Vacation Club account requires no minimum deposit, so you can deposit or transfer as much or as little as you want. There is also no minimum balance required. You can open the account whenever you want, and the funds automatically transfer into your regular savings account on April 1. You don't need to worry about losing access to these funds! If an emergency arises and you need to withdraw the funds early, there is only a small early withdrawal fee of $10.

What Are the Advantages of Getting a Vacation Club Account?

• Avoid debt: By saving throughout the year, you can pay up front for vacation costs, such as hotels, airfare or even excursions, instead of putting them on a credit card to pay off later.
• Convenience: You can use digital banking to transfer money from other accounts into your Vacation Club account with the click of a button.
• Automation: You can budget for automatic monthly transfers from your checking account so that your vacation savings grows steadily, and you do not have to remember to move the money.
• Higher dividends: You can earn higher interest rates on Vacation Club accounts than regular savings accounts, giving you even more money to put toward your trip. Plus, there’s no minimum balance required to earn dividends.
• Time savings: When you set up automated transfers or use digital banking, you don’t have to plan a trip to one of our branches. You can make transfers or deposits on your own time at the click of a button.

As a bonus, you can use your Vacation Club account for other purposes too. For instance, if you are self-employed and pay quarterly taxes to the federal, state and local tax bureaus, you can use a vacation club savings account to separate that money from your regular savings account and ensure you do not spend it.

How Can You Open a Vacation Club Account?

Any member can open a Vacation Club account! You can visit us at any of our nearly 60 branch locations or open an account online anytime. It’s that simple. Save your money throughout the year to make your vacation memories stress free.