BROWSE

Savings Club

What is 'Savings Club'

A non-incorporated group that has opened some type of savings or other deposit account. The money in the account is the joint property of all club members.

Explaining 'Savings Club'

"Savings club" also refers to a special type of savings account that comes with a passbook with coupons. Most accounts of this nature mature on a regular basis (e.g. annually). Christmas club accounts are an example of this type of account.


Further Reading


Financial capability in children: Effects of participation in a school-based financial education and savings program
link.springer.com [PDF]
… savings club, or a person outside the family. While the Global Findex survey did not gather data … or livestock) and saving ―under the mattress … 2008. ―Financing patterns around the world: Are small firms different?‖ Journal of Financial Economics 89 (3): 467-487 …

Micro-finance and the Empowerment of Women: A Review of the Key IssuesMicro-finance and the Empowerment of Women: A Review of the Key Issues
ideas.repec.org [PDF]
… savings club, or a person outside the family. While the Global Findex survey did not gather data … or livestock) and saving ―under the mattress … 2008. ―Financing patterns around the world: Are small firms different?‖ Journal of Financial Economics 89 (3): 467-487 …

The impact of social and financial education on savings attitudes and behavior among primary school children in UgandaThe impact of social and financial education on savings attitudes and behavior among primary school children in Uganda
journals.sagepub.com [PDF]
… savings club, or a person outside the family. While the Global Findex survey did not gather data … or livestock) and saving ―under the mattress … 2008. ―Financing patterns around the world: Are small firms different?‖ Journal of Financial Economics 89 (3): 467-487 …

Current account balances, financial development and institutions: Assaying the world “saving glut”Current account balances, financial development and institutions: Assaying the world “saving glut”
www.sciencedirect.com [PDF]
… savings club, or a person outside the family. While the Global Findex survey did not gather data … or livestock) and saving ―under the mattress … 2008. ―Financing patterns around the world: Are small firms different?‖ Journal of Financial Economics 89 (3): 467-487 …

Financial instruments of the poor: initial findings from the South African Financial Diaries studyFinancial instruments of the poor: initial findings from the South African Financial Diaries study
www.tandfonline.com [PDF]
… savings club, or a person outside the family. While the Global Findex survey did not gather data … or livestock) and saving ―under the mattress … 2008. ―Financing patterns around the world: Are small firms different?‖ Journal of Financial Economics 89 (3): 467-487 …

Financial education and access to savings accounts: Complements or substitutes? Evidence from Ugandan youth clubsFinancial education and access to savings accounts: Complements or substitutes? Evidence from Ugandan youth clubs
www.nber.org [PDF]
… savings club, or a person outside the family. While the Global Findex survey did not gather data … or livestock) and saving ―under the mattress … 2008. ―Financing patterns around the world: Are small firms different?‖ Journal of Financial Economics 89 (3): 467-487 …

Club goods and group identity: Evidence from Islamic resurgence during the Indonesian financial crisisClub goods and group identity: Evidence from Islamic resurgence during the Indonesian financial crisis
www.journals.uchicago.edu [PDF]
… savings club, or a person outside the family. While the Global Findex survey did not gather data … or livestock) and saving ―under the mattress … 2008. ―Financing patterns around the world: Are small firms different?‖ Journal of Financial Economics 89 (3): 467-487 …



Q&A About Savings Club


How does one withdraw from their savings club?

One must contact the bank or credit union directly and request withdrawal from their savings club fund(s).

How do you open a savings club?

You need to have at least two people and agree on how much each person will put into the fund each month, as well as how long it should be saved for (i.e., retirement, vacation) and what will happen if one member wants his/her money back early (i.e., penalties).

What is a savings club?

A non-incorporated group that has opened some type of savings or other deposit account. The money in the account is the joint property of all club members.

What does "savings club" also refer to?

It also refers to a special type of savings account that comes with a passbook with coupons. Most accounts of this nature mature on a regular basis (e.g. annually). Christmas club accounts are an example of this type of account.