End of year (2025) interest tax statements (1099 & 1098) will be mailed no later than January 31, 2026. Contact a personal banker or loan processor if you have additional questions.
Plan smart, spend merry.
Christmas Club Savings Account
Open your Christmas Savings Account now and build a holiday fund that keeps your budget intact. By Christmastime, you’ll be ready to shop, celebrate, and enjoy the season debt-free.
How it Works
Throughout the year, deposit money into the account on a regular basis, and then withdraw the funds before the holidays. The Christmas Club account pays out annually, ending the third Friday in October. The funds will be paid by direct deposit to your account at Luana Savings Bank.
Interest Rate
2.04% APY*
Rate effective Oct. 17, 2025
Compounding & Crediting
Interest will be compounded monthly and will be credited to the account monthly.
Automatic Transfers
Auto transfer funds from your Luana Savings Bank primary checking account to your Christmas Club Account.
Deposit Amounts & Additional Details
No minimum amount to open. The maximum amount that can be deposited into the club account is $10,000 annually. No withdrawals will be allowed prior to the close of the club year which will be October 16, 2026. If the account is closed prior to October 16, 2026, a fee of $25 will be charged. Upon maturity, your account will automatically renew to start saving for each Christmas to come.
Ready to get started?
Open an Account Today
Fill out a simple form and we will be happy to assist you.
*(APY) Annual Percentage Yield. Rates and terms may change without notice. Early withdrawal penalties may apply. Fees may reduce earnings. Speak with a Personal Banker for more information.
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