Wish you would have built up more savings for Christmas?


christmas-box-71758_1280 web.jpg

Christmas and New Year has been and gone in a blur, most of the members who save or borrow with Hoot Credit Union have told our staff how the festive period would have been a little easier if they’d have saved a touched more in the lead up to Christmas. It is easier said than done, we all know that but the perfect solution is to open at Christmas Saver account at Hoot today – to take the stress out of next Christmas.

According to research conducted for the National Debtline, run by the Money Advice Trust (MAT), an estimated 7.9 million people are expecting to fall behind with their finances this January as a result of Christmas costs. Joanna Elson OBE, chief executive of the MAT, encouraged the community to use their local Credit Union’s services

“At the start of this New Year, when resolutions are being made, I would encourage everyone to look at their personal finances and make a plan if they can for 2018 – set a household budget, look at joining a Credit Union in preparation for next Christmas. Taking these first steps to make a plan for your finances can make a huge difference for the rest of 2018”

The Christmas Saver was designed to meet the needs of the local community who told Hoot that they wanted to save for Christmas throughout the year but found it hard when other unexpected bills appeared. The account is unlike some other saving clubs and schemes where you are restricted to certain shops to spend the money you saved, with our Christmas Saver the money is available to spend wherever you like.

The ever increasing numbers who use Hoot’s year round Christmas Saver account regularly tell us it is the best thing they have ever done. By paying a little into your account each week or month, you will be able to sit back and enjoy the festive period knowing you haven't had to run up huge credit card bills or take out an expensive personal loan. Christmas savings are unlocked in mid-November giving you plenty of time to do your Christmas shopping!  Make 10 consecutive savings deposits into your Christmas Savings account before the unlock date and you will be automatically entered into a draw where one lucky member could win a £50 Christmas Savings Bonus.

In 2017 Hoot account holders saved £48,000 which helped to buy big ticket presents, entertain family and friends, whilst a couple of account holders used the money to fund their Christmas holiday escape to sunnier climates.

If you already have a savings or loan account at Hoot then opening the Christmas Saver will be the simplest thing you do this year to make the 2018 festive period enjoyable. Contact us and speak to a member of staff about increasing your standing order or wage deduction.  Members who have payroll deductions for the Christmas Saver tell Hoot it is great because they do not notice the money has gone, because it has been deducted before they receive their wages!

At Hoot we understand there are a number of limited alternatives for Christmas saving. When considering other companies who provide similar Christmas saving and voucher schemes remember that as a member owned not-for-profit co-operative Hoot is run solely for your benefit. Your savings are covered by the Financial Services Compensation Scheme, we do not charge fees, we do not take a percentage of your money and you are not tied into using the money you saved in restricted shops.

If you have not already opened a Hoot account it could not be easier to start your Christmas saving today at Hoot Credit Union. Firstly check you are eligible to join here, then either join online here or pop into our Victoria Square branch and complete an application form - remember to bring two forms of identification.

Be surprised at how much you can save!