Maintain.Save for those big annual expenses

Savings Club Accounts

Our SAVINGS CLUB accounts are a very convenient way to set money aside for a big or small purchase in the future.   We believe that it’s always easier to save when it happens automatically.  So, our SAVINGS CLUB accounts are setup to automatically withdraw money from one of your LSB checking or savings accounts and transfer it into the SAVINGS CLUB account.  That way, you don’t even miss it!  The money in the SAVINGS CLUB account will earn interest at a competitive interest rate and, when the account matures, the bank will automatically transfer the balance back to your regular LSB checking or savings account so you can make your big purchase.  It’s a super simple and convenient way to prepare for those big dollar needs in life.

At LSB we offer two different SAVINGS CLUB accounts, a Vacation Club and a Christmas Club, but don’t let the names limit you.  You can use these accounts to help you save money for any big purchase.  The only major difference between the two club accounts is how much you can put in the account and when you can get it out.  Either way, both accounts will help you protect and add to your savings.  Below are some of the details for each type of SAVINGS CLUB account, and you can find the savings account interest rates here.

Vacation Club

If you’re planning to take a big trip or if you’re looking for a convenient way to save for some other big expense, check out the LSB Vacation Club as an option.  It’s simple to use, funds can be transferred automatically from one LSB account to the club account, you’ll earn a competitive rate on your savings, and you’ll get your money automatically deposited into your LSB account at the end of the club term.  Here are all the details:

• Minimum deposit of $10 to open
• Competitive variable rate of interest
• Interest is compounded daily and credited to the account at closing
• Maximum weekly deposit is $50; Minimum weekly deposit is $10
• No withdrawals before maturity or the account will be closed
• $10 early redemption fee
• LSB deposit account is required in order to automatically transfer money into the Club account and to automatically transfer the Club balance at maturity

Christmas Club

The LSB Christmas Club is a convenient and structured way to save throughout the year in a deposit account for the holidays.  Then, in October, the balance in your account is available for your holiday buying needs.  Here are all the details:

• Available in $2, $5,$10, and $20 weekly deposit accounts
• Minimum deposit of $2 to open
• Competitive variable rate of interest
• Interest is compounded daily and credited to the account at closing
• Maximum weekly deposit is $20;  Minimum weekly deposit is $2
• No withdrawals before maturity or the account will be closed
• $25 early redemption fee
• LSB deposit account is required in order to automatically transfer the Club balance at maturity

It doesn’t matter what the SAVINGS CLUB is called.  You can use the money however you like once it gets transferred back to your LSB checking or savings account.  It’s just a great way to get you to stockpile some money for a future need.  If you think a SAVINGS CLUB from La Salle State Bank might be the right savings method for you, contact one of our Personal Bankers for more information.