Christmas can be an expensive time of year and if you pay for Christmas on a credit card, store card or by borrowing from a High Street loan provider you could end up paying a great deal extra in interest charges. Instead, saving in advance means that you will not have to pay these extra costs.

Our Christmas Savers Club is open to anyone living or working within the Borough of Rugby. It will be of interest to people who like to save for Christmas and are distrustful of unregulated Christmas Clubs. It will be of particular interest to people left out of pocket by the collapse of the Farepak Hamper company and are looking for an alternative. Money saved in Credit Unions is similar to banks and building societies in that it is protected by the Financial Services Compensation Scheme.

We provide easy savings schemes for all sorts of needs, including Christmas, and we also provide affordable loans with no early repayment penalties. Because Credit Unions are owned and controlled by their members, they only exist to serve their needs.

People can start saving at any time to make sure they have enough money for expensive events and they can then choose where and when to buy the goods they need.

All that is necessary is to join the Credit Union and start saving regularly, either in cash or by standing order. Members who find they need a little more than they have saved when it comes to the big event can take out a loan to cover the extra, providing they have shown a regular savings pattern over the previous months.

So here’s a suggestion – start saving a regular amount, then come Christmas (or whatever event you’re saving for) take out a loan such that your regular payments remain exactly the same! That way you won’t even notice the difference and by next Christmas you could be in a much better position, thanks to the Credit Union.