Getting Ahead with Your Christmas Savings

Getting Ahead with Your Christmas Savings

Now that the pumpkins have left the supermarkets and there’s tinsel lining the shelves, it won’t be long until we start hearing Michael Bublé on the radio…

It’s beginning to look a lot like Christmas, which for NHS Credit Union members means it is time to start planning the gifts, get-togethers, and getaways they will need to pay for.

No matter which purchases are on the horizon, careful planning can help you avoid starting the New Year in debt, so if you haven’t already, we would recommend you start a Christmas savings pot now.

At the NHS Credit Union, we always encourage our members to save, so that’s why we created our Christmas Savings Account specifically to help them get money smart in preparation for the festive season.

If you haven’t opened a Christmas Savings Account with us yet, here’s why you should consider one to help you get into a good financial position for next Christmas.

Your Christmas Budget, All Wrapped Up

As savings experts will tell you, it’s never too early to start thinking about Christmas.

Christmas expenses can be stressful, and it can be easy to resort to last-minute purchases or rely on credit cards to pay for everything.

However, this puts you at risk of overspending to meet extra costs, getting into debt, or ending up with additional payments that take all year to repay.

The good news for NHS Credit Union members is that you don’t need accounting skills to plan for Christmas.

Making a regular contribution from your salary or direct debit every month into your NHSCU account will help you build a healthy pot of money based on your budget.

Saving regularly can help you develop good money habits and avoid taking on debt or large credit card bills for last-minute Christmas purchases.

At the NHS Credit Union, we are proud to offer our members a range of savings products designed to help them save smarter, which includes our Christmas Savings Account.

A Present for Under the Tree

The Christmas Savings Account allows members to put money aside in advance of the special day.

By opening a Christmas Savings Account, members can focus less on how they are going to pay for festive goodies and more on how they’re going to enjoy a debt-free Christmas with the people they love most.

Some of the benefits of this account include:

  • Regular deposits can be made by payroll deduction or direct debit.
  • Annual withdrawals can be made between 1st October and the last day in February of the following year (£5 early-withdrawal penalty).
  • All funds are protected by the FSCS scheme.
  • Potential annual dividend on savings.
  • For more key facts click HERE.


The biggest advantage of an NHS Credit Union Christmas Savings Account is that your funds are safely locked away until October each year, removing the temptation to withdraw before you need funds for Christmas preparation.

Whether it’s the Christmas turkey, family presents, or the electricity bill, having a Christmas Savings Account with us means you can sleep a little sounder knowing you are prepared ahead of the festive season.

Use our NIVO App to check out your Christmas Savings Account today.

Or find out more about how to open a Christmas Savings Account and the benefits >

Joining our Credit Union

If you’re not already a member, joining the NHS Credit Union is as easy as 1, 2, 3.

  1. Complete our online application form
  2. Make your initial deposit to open your NHS Credit Union account (min. £5)
  3. Download the Nivo app and log in to begin managing your savings and loans

Membership is open to anyone who has currently or previously worked for the NHS in Scotland and the North of England, has provided contractual services to the NHS, or lives with a credit union member. (Check our full eligibility criteria here).

Benefits* of our savings accounts and loan products include:

  • Membership for life.
  • Easy account setup.
  • Deposits can be taken directly through payroll deduction or direct debit.
  • All funds are protected by the FSCS scheme (up to £85,000).
  • Potential annual dividend.
  • Savings can be pledged as security against loans, and you can borrow from us while you save with no negative effect on your eligibility or credit score.


Members also have access to unique, free bereavement protection provided by the credit union for the family of members in the event of a loss – the Life Savings and Loan Protection Scheme. Which gives extra peace of mind to members and their families at no extra cost.

As a member of the NHS Credit Union, you can be confident that your money is always working in your best interest and that you are keeping your finances in great shape.

For a full list of benefits, read more on our site about the advantages of becoming a member.

*Terms and conditions apply


If you’re ready to set up a savings account or take out a loan with us, or just want to find out more about becoming a member, please get in touch.


Your NHS. Your credit union. Your money.


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