Frequently Asked Questions

Christmas Club interest is compounded daily and credited to the Christmas Club quarterly, giving you the flexibility to save the amount you need, up to $5,000. If the Christmas Club is closed before interest is credited, the interest will be forfeited. Christmas Club interest is compounded daily. The daily balance method is used to calculate the account interest. This method applies a daily periodic rate to the principal ledger balance in the account each day. Check out our Christmas Club page for current rates and account details. Ready to start saving for the holidays? Apply now to open an account today.

The Christmas Club account is a great way to save money during the year for holiday or other expenses. You can open your account today with a $10 deposit. A maximum of $5,000 may be deposited into this account and there are no annual fees for active accounts. Payouts are disbursed October 20^th of each year via ACH to the account of your choice. Automatic drafts from your Carter Bank checking accounts can also be established. Check out our Christmas Club page for current rates and other account details. 

Click here to open an account today.

Payouts are disbursed on October 20^th of each year via ACH to the account of your choice. The new account deposit date starts on October 21^st.