Systematic saving will pay off for Dupaco Community Credit Union members this holiday season. Through the credit union’s popular Holiday Club savings account, a record-setting $5.8 million-plus was saved throughout the year and was paid out Oct. 30, 2020, to 5,585 participating members. The average Dupaco member saved $1,042.
The amount saved was the highest in the history of Dupaco’s Holiday Club, which was created in 1954 — and more than $673,000 over the amount saved and paid out last year. The payout came within two weeks of Dupaco members also collecting more than $4.5 million in Thank Use, a campaign that pays participating members a bonus cash dividend for using their credit union’s services to boost their financial well-being.
A Holiday Club is traditionally opened in November, with automatic deposits made into the account weekly or biweekly throughout the year. At the end of October, all savings, plus accumulated dividends, are paid out automatically to participating members.