Savings push leads to CUs reviving Christmas clubs

MADISON, Wis. (9/14/09)--With more Americans increasing their personal savings in a troubled economy, credit unions and banks are helping to revive a concept that was thought to be defunct--the Christmas club account.

Holiday savings clubs--along with layaway plans, which also are making a comeback--have once again become desirable to consumers coping with rising unemployment and uncertainty regarding the economy, Steve Rick, senior economist for the Credit Union National Association, told the Associated Press Thursday.

Click the title for the whole story.
Courtesy of cuna.org