Holiday Savings Account
Between buying gifts for the family, hosting holiday dinners, joining in on work festivities, and juggling everyday expenses, the obligations of the holiday season can easily throw your budget off course—especially if you’re not prepared for them.
At VyStar Credit Union, we believe the best way to financially prepare for the holidays is to set aside some money throughout the year, so you don’t have to scramble for cash at the last minute or take a chunk out of the funds you’ve saved for another project. That’s why we created the VyStar holiday savings account: to help you conveniently and gradually save money you can use specifically for the holiday season, without hurting your budget.
On October 15th of each year, the entire balance of your holiday savings account will be automatically transferred to your primary checking account. After that, your holiday account will remain open so you can continue making transactions to/from the account.
Benefits of a Holiday Savings Account
With a holiday savings account, you can enjoy:
| Flexibility to Set Your Own Savings Schedule |
You decide how often you contribute to your holiday savings account, based on what works best for your budget and finances. Whether you make a deposit weekly, monthly or whenever you get some extra income, the choice is yours! |
| No Maintenance Fees |
Save money with peace of mind knowing you won’t be charged regular maintenance fees for your holiday savings account. |
| No Minimum Deposit Amount |
With your holiday savings account, you don’t have to worry about maintaining a minimum deposit amount. You can save as little, or as much, as you want! |
How to Open a Holiday Savings Account
To open a VyStar holiday savings account, you must first be a VyStar member with a primary savings account.
Becoming a VyStar member and opening a new VyStar savings account is easy, and it can be done in person at any branch or online.
To get started online, just follow these simple instructions.
- Click on the “Become a Member” link at the top right corner of this page.
- Follow the on-screen prompts to fill out and submit your membership application, and to select the type of account(s) you would like to open. A savings account is required for VyStar membership. All you need to get your account started is a $5 minimum deposit into the account.
If you have any questions about VyStar savings accounts, please call us at (904) 777-6000 or 1 (800) 445-6289. Our representatives are more than happy to assist you.
Holiday Savings Account FAQs
If you do not have a primary checking account for the holiday funds to transfer to, then the funds will remain in your holiday savings account.
If you have more than one primary checking account at VyStar, your holiday funds will be transferred to the first checking account with the lowest checking account number.
You will be notified via email when the funds from your holiday savings account have been transferred. To ensure that you receive your notification, please make sure you have your current email address on file for your VyStar accounts.
The holiday savings account has the same
interest rate structure as a primary savings account. Dividends will be paid for a balance $50.00 or more.
Yes, you must establish a primary savings account before you open a holiday savings account.
There is no minimum deposit amount required to open a VyStar holiday savings account.
No, minors are not eligible for a holiday savings account.
No, the VyStar holiday savings account cannot be linked to any cards.
No, the VyStar holiday savings account cannot be used for overdraft protection. Please visit our
Overdraft Protection page to review your arrangement options.