About the RMT Christmas Club

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Saving for Christmas can be a real headache. Relieve some of the stress by saving over the course of the year with the RMT Christmas Club.

  • We’ll add a little extra to your savings and pay out the money ready for your Christmas shopping spree.
  • Even a small amount saved each month soon adds up. Saving is made easy by Direct Debit either monthly or 4-weekly to suit your pay cycle.
  • Your money is paid directly to you, so you’re in charge of your Christmas spending.
  • Your savings are secure. The Financial Services Compensation Scheme protects your savings 100% up to £50,000. So with RMT CU your savings are completely secure.
  • If you make all of your payments we anticipate a dividend bonus of 2% per annum as accrued through the year.
  • You will also become a full member of the RMT Credit Union which means your regular savings will build up and attract a dividend (3.75% in 2007). You can also apply for low cost loans.
  • Our Credit Union is owned and controlled by our members. Any surplus we make is returned to members as a dividend on savings, competitive rates on loans and improved services.

Existing Credit Union members should only download and complete form 1 (below). New members should download and complete both forms 1 and 2.

  1. Christmas Savings Club Application Form
  2. Credit Union Application Form

Important information about this product

  • You need to be an RMT Credit Union member to open a Christmas Club Account.
  • You have to save at least £5 per month into a RMT CU account in addition to your RMT Christmas Club Account.
  • You pay a monthly or 4-weekly Direct Debit consisting of your nominated Christmas Club payment (min. £10) plus at least £5 per month to your main RMT CU account. Christmas Club payments will run from November to October each year.
  • Christmas Club accounts have to be opened by the end of April. Late applications commence payments the following November.
  • As an RMT CU member you build up regular savings with a yearly dividend and you can apply for a low interest rate loan.
  • Your Christmas Club money is separate from your regular savings account. That means you will have a guaranteed sum available for Christmas maturing every 14th November, plus a savings account growing with time.
  • The Christmas Club secures your money so it’s there for the Christmas period. This means that your money is locked-in and you can make no withdrawals until on or after 14th November when all of your money, plus bonus will be paid out.
  • If you make all of your payments we anticipate a dividend bonus of 2% per annum as accrued through the year.
  • All of your money will be paid to your bank account on the first working day after 14th November.
  • If you cancel your payments the dividend is not applied and you cannot withdraw your money until after 14th November. If you think you will need access to your money before 14th November, this account is not suitable for you.
  • The Christmas Savings Club will continue year-on-year, so payments after 14th November start the next year’s account. Of course if you wish to cancel your payments you are free to do so at any time.