"Focus: Banking & Finance" piece on holiday club accounts, noting that the savin

Whit Richardson

Source

Mainebiz

Date

12-12-2005

Pages

30-31

Abstract

"Focus: Banking & Finance" piece on holiday club accounts, noting that the savings accounts are still popular at some of Maine's smaller financial institutions. Saco & Biddeford Savings Institution, the oldest bank in Maine, continues to offer a Christmas club, joining the ranks of only 35 percent of other retail banks nationwide. Many large commercial banks, like TD Banknorth in Portland, have discontinued holiday clubs altogether, though they offer a comparable product. Jon Paradise of the Maine Credit Union League points out that the current generation is more credit-oriented versus savings-oriented.

Subjects

Bank accounts, Saco and Biddeford Savings Institution, Maine Credit Union League

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