A holiday loan is a short term loan to help out with
seasonal expenses including gifts, decorations, and even heating oil. These loans typically come with a low
interest rate and can help keep you from using a credit card with a high
interest rate. A Skip-a-Pay program
allows you to skip or defer a loan payment for one month; this can really free
up some money for the holidays.
The best way to avoid having to worry about your holiday
finances is to start a Club account.
These accounts allow you to make small monthly or weekly deposits
throughout the year and in most cases the money is automatically transferred
into your checking account at the beginning of October. Stop by your local credit union and ask how
they can help you with your holiday spending.
To find a credit union near you visit www.mainecreditunions.org.