How relaxed would you feel if the holidays came around and you were confident you had enough money for gifts and family travel? How excited would you be before a trip if a large sum of money dropped into your account? How proud would you be if you could gift your child with a generous wedding or housewarming present?
Automated savings accounts, like the Merchants Bank Winter FUNd, can make achieving your savings goals easy.
For the months of January through October, you automate deposits into your Winter FUNd account – and that money grows. Then, the first week of November, you collect the total amount you deposited throughout the year – with interest!
The automated process makes it so seamless, you forget you’re saving. Dana Christensen, a Customer Service Representative in Winona said, “I love the idea that the money goes right into the account from my payroll, so I don’t even miss the money. It is a great way to save money without having to think about it or remember to make the transfer.”
The Winter FUNd account has quite a few fans at Merchants Bank – some employees have had theirs for over 15 years. After all, who doesn’t want a gift you give yourself?
Want to take a family vacation this year? The Winter FUNd is great for saving for trips. Dana uses hers to escape the chill of winter:
“I really love this account! We take a cruise each year in the winter and I use this money as our final payment for our vacation since the timing works out perfectly.”
Sandra Pasche, a Customer Service Representative in St. Charles, also flies south in the winter, but her FUNd account serves to fund a different vacation expense:
“When my husband and I travel this gives me my spending money for our trip. When the money is directly deposited into the account from my paycheck, I don’t even miss it, so when the money paid out I always think ‘Wow! Here’s a chunk of change for us!’”
Maybe the holidays were a bit stressful last year – budgeting for gifts and sticking to it is easier said than done. But the Winter FUNd makes saving holiday money and setting that budget early a little more manageable.
Corene Richards, a Mortgage Closing Specialist in Winona, knows that being prepared makes the holidays that much more enjoyable: “I use my Winter FUNd for Christmas. It puts me at ease knowing that I will always have a set amount set aside and not have to worry about it. I’ve used this account for more than 15 years.”
The Possibilities Are Endless
Other customers have used FUNd accounts to save for projects like home remodel or family events like a wedding. Maybe you want to practice having a mortgage, so you “make payments” to a FUNd account. Then, when that money is paid out, you are that much closer to a down payment on a home. Any goal you have could benefit from a FUNd account.
Merchants Bank Winter FUNd accounts start in January – but it’s not too late to open one now! There’s only one extra month to pay your monthly contribution to catch up. If you know the total amount you’d like to save, we can help you come up with your automatic monthly deposit amount (minimum $25). To open an account or for more information, contact your local Customer Service Representative.