DOCO Regional Federal Credit Union members have not allowed the distressed economy to impede their savings goals.  Utilizing the credit union’s Christmas Club savings account, members saved $1,212,306.06, which was released for holiday spending on November 1.

American consumers have no doubt tightened budgets during the nation’s economic struggles.  In fact, according to an America's Research Group study, 43 percent of American shoppers plan to spend less during the fourth quarter of 2010 than they did in 2009. In line with this national outlook, 43.4% of Georgians responding to the Georgia Credit Union Affiliates' (GCUA) Mid-Year 2010 survey indicated they plan to spend less on the holiday season than they did last year.  DOCO Regional FCU members, however, could be equipped to spend as much if not more than last year thanks to the credit union’s Christmas Club savings program.

When questioned about the success of the Christmas Club savings program, DOCO Regional FCU president and CEO, Barry O. Heape commented, “One of our main goals at DOCO is to help our members get ahead financially.  Our Christmas Club program is one of the most simple products we offer to help our members, and it benefits the whole family as well as the community when you factor in the ripple effects of the money being reinvested locally.”  Heape further explained, “Christmas Club accounts are designed to foster financial preparedness by providing a systematic method for members to set aside a little savings each month in order to prepare for increased spending habits during the holiday season.  Typically, the deposits are taken directly from members’ paychecks before ever hitting their pockets.  Therefore, members don’t miss the money.”

There is no cost to open or maintain a Christmas Club account at DOCO Regional FCU, and an account can be opened any time during the year.  According to Heape, now is the best time to renew or start a Christmas Club savings account.  The accounts pay competitive monthly dividends and allow members to make extra deposits or adjust the amount that is automatically deposited at any time.  The savings is maintained in a separate account from members’ regular savings, and there is a minimal early withdrawal fee to encourage members to resist the temptation of dipping into savings before the holiday season.

DOCO Regional Federal Credit Union is a full-service financial institution committed to providing the highest level of excellence in financial services and education aimed at improving its members’ financial well-beings.  DOCO Regional FCU currently operates six offices in southwest Georgia located in Albany, Americus, Lee County, Pelham and Tifton; two offices in north Georgia located in Toccoa and Eastanollee; and one office in Marion, North Carolina.  For more information about credit union membership eligibility or any of its products or services, please call (229) 435-1715 or (800) 227-9180 or visit www.docofcu.com.