According to the original bylaws of the St. Thomas Employee Federal Credit Union, “the purpose of this credit union is to promote thrift among its members, by affording them an opportunity for accumulating their savings … .” At least 100 members have taken this to heart, and now those members have checks totaling $96,491.24 waiting for them.
These members are all members of the credit union’s Christmas Club, and they have been saving since Nov. 1, 2010. All deposits from that date through Oct. 31, 2011, plus an annual dividend of .5 percent, are now available.
“Shopping for Christmas with money in hand means no guilt and no credit card bills in the mail next January,” remarked Adrienne Sturm, credit union manager.
The special Christmas checks are available (in a green envelope, no less) in the credit union office, Room 209 Loras Hall, through Friday, Nov. 4. After that, the remaining checks will be mailed to the address where statements are sent. Christmas Club members who prefer that something else be done with their checks can call (651) 962-6660 or email the credit union.
Christmas Club deposits currently made via automatic payroll deduction will continue in the same amount for the 2012 Christmas Club. To change the amount of the paycheck deduction, it is necessary to fill out a payroll change form. The forms are available at the credit union.
For nonmembers, to join the Christmas Club for 2012 a minimum share balance of $5 is required. To enroll, stop by Room 209, Loras Hall, call (651) 962-6660 or email.
“The office staff can get you started so that next year you, too, will be receiving a green envelope,” Sturm said.
For more information about the Christmas Club, or other services available at the credit union, visit the Credit Union's website.