DUBUQUE, Iowa—Dupaco Community Credit Union is reporting its members will have a little more cheer this holiday season, thanks to their systematic savings habits.
Through the credit union’s popular Holiday Club savings account, nearly $6 million was saved throughout the year and was paid out Oct. 30, 2022, to 5,638 participating members, the CU said.
The average Dupaco member saved $1,049.79.
As CUToday.info reported here, the Holiday Club payout came within two weeks of Dupaco members also collecting nearly $3.7 million in “Thank Use,” an initiative that pays participating members a bonus cash dividend for using their credit union’s services to boost their financial well-being.
Dupaco Community CU said its Holiday Club was created in 1954. Holiday Club accounts are 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, DCCU said.
“The habit of systematically saving money is a core principle of Dupaco,” said President and CEO Joe Hearn. “Thrift by way of a Holiday Club account, which also earns daily dividends year-round, better prepares members when the holidays arrive.”
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