Financial Tips

Can I join your “vacation club”?

By November 20, 2014June 22nd, 2015No Comments

hawaiiIt’s the time of year when I look around the office and wonder where everyone is. Oh wait, it’s vacation season, duh! Ann is in Nashville, Jeff took a “stay-cation” and is working on remodeling his bathroom, Jennifer went to Myrtle Beach, and here I am, stuck in my cubicle wishing I would have jumped in one of their suit cases. Just kidding, I’m leaving tonight for Fripp Island, South Carolina! I had you feeling sorry for me for a minute, huh?

Everyone loves being able to get out of dodge for a while but not everyone is dedicated enough to set aside the money throughout the year to make that a possibility. This is where vacation club can be a real life saver. I have to admit, before coming to Richwood Bank, I had never even heard the term “vacation club”. It sounded a little strange and I wasn’t sure what it meant. Turns out, a “vacation club” is just a fun way of saying vacation savings plan. However, a vacation club is not like a normal savings account.

In order to join and reap the benefits of this club, you choose an increment amount of money (a coupon) that you would like to contribute on a weekly basis. Basically, you will contribute the amount listed on this coupon and it will be deposited in your own personal vacation club each month. At the end of the term of the club, if you have deposited the total of the coupons for the account, you receive that same amount of your monthly coupon as a bonus on your account. Plus you get all of the money that you have been accumulating over the past year. It’s pretty much like getting free money just for saving for a vacation. Just about every word in that last sentence sounds appealing to me, how about you?

There are some other details of the account that you probably still need to know but overall remember this: vacation club helps you save for vacation. Plain and simple!

Interested in opening a vacation club account? Read more here or simply stop in to one of our branches and a team member will be happy to assist you.


Member FDIC


*Vacation club accounts may be opened between May 1, 2015 through December 31, 2015.  Deposits may not exceed the total of the coupons for the type of account opened.  You may not make withdrawals from your account until the maturity date.  You will be paid an amount equal to one coupon as a bonus on May 1, 2016.  To earn the bonus, the total of the coupons for the account must be on deposit April 30, 2016.  A $10.00 fee will be charged if you close your account prior to maturity.




Author: Abby Gruber

abbyhsAbby is the Marketing Strategist and Copywriter for Richwood Marketing. She enjoys helping businesses discover and promote what makes them unique as well as helping to capture those ideas in writing. Abby is responsible for maintaining Richwood Bank’s blog and is always open to hearing your ideas and suggestions. If you have a certain topic you would like covered, please email her at