Club Savings Accounts


Club Savings Accounts are all about one thing - saving ahead. When you save ahead for large expenses that aren't part of your typical budget, you avoid finance charges for loans or credit cards later. Our club accounts encourage you to save a little each pay and forget about the money. We allow one "free withdrawal" from your club account before the designated disbursal date, but we will charge $10.00 for each withdrawal thereafter. To reward you for not touching your money, your account will earn interest.

You can deposit money into your Club Savings Account in the following ways:

  • Direct Deposit/Payroll Deduction

  • Stopping by any one of our branches

  • Transferring money using Online Banking 

Depending on your needs or situation, one or more of the following Club Savings Accounts may suit you:

Summer Pay Club

If you are a teacher or an employee on a 10-month pay schedule, a Summer Pay Club may be for you. While you may not be collecting a "paycheck" during the summer months, bills (and unexpected expenses) still have to be paid. Depending on how much you save during the year, our Summer Pay Club could be just like getting a regular "paycheck."

There are two types of Summer Pay Clubs from which to choose:

  • One Pay Plan - all funds are transferred automatically on July 1st

  • Five Pay Plan - funds are transferred starting July 1st and then every two weeks for a total of 5 payments

All funds are transferred directly into your designated ABCO account on the scheduled dates. They are available for immediate withdrawal.

Account Type Recommended Start Date Disbursal Date APY*
Summer Pay Club Savings Account September 1st July 1st

How Much Should I Save Each Pay Period?

Here's an easy way to determine how much you will need to put aside each pay period:

  1. Determine your yearly salary $ ______________

  2. Choose the total amount you want to save for summer pay $ ______________

  3. Divide the dollar amount from line 2 by the number of pay periods in 10 months $ ______________

A minimum of 10% of your pay has always been suggested.  However, with the rise in the cost of living, you may want to consider a higher deduction.  Completing the exercise above will help with your decision.

Stop in to one of our branches or call 800-225-1859 to learn more about opening up a Summer Pay Club Account. 


Christmas Club 

Holiday gifts can be a big expense - one that requires planning ahead. That's where our Christmas Club Account comes in to play. By creating a Christmas Club Account, you'll avoid having to ring up your credit cards or take out a loan later.

Account Type Recommended Start Date Disbursal Date APY*
Christmas Club Savings Account January 1st October 1st

Stop in to one of our branches or call 800-225-1859 to learn more about opening up a Christmas Club Account.


Summer/Winter Vacation Clubs

Whether it be sightseeing in Paris, skiing in Lake Tahoe, or just visiting relatives in Ohio, use a Summer/Winter Vacation Club Account to save for your trip. By direct depositing a small sum each pay period, you can steadily save for your vacation.

Account Type Recommended Start Date Disbursal Date APY*
Summer Vacation Club Savings Account September 1st June 1st
Winter Vacation Club Savings Account April 1st February 1st

Stop in to one of our branches or call 800-225-1859 to learn more about opening up a Summer/Winter Vacation Club Account.


How to Open an Account

Stop by one of our branches or sign up by mail. See our step by step guide to becoming a member.

Note: ABCO reserves the right to deny an application based on information provided by Chex Systems or by any other accredited source.

*Annual Percentage Yield. Fees could reduce earnings on the account. Rates subject to change at any time without notice.