Please beware of fraudulent / scam text messages, emails or phone calls regarding your debit card or bank account.
Always call the bank at 815-264-3201 or our debit card provider Shazam at 866-508-2693 to confirm.

Waterman Savings

Christmas Club

Earn .25% APY on your savings

Start with only $1

Earn .25% APY

Earn a competitive rate while you save for the holidays and special moments.

$0 Monthly Fees

No maintenance or minimum balance fees. Your money stays with you.

24/7 Online Banking

With 24/7 online banking, you can monitor your account and add additional funds at your convienence.

Limit of $1 Million per account.

Additional Features

Christmas Club

Waterman Bank is a member of the Federal Insurance Corporation (FDIC). The FDIC protects your Waterman Bank deposits up to $250,000 per depositor for each qualifying account ownership category. This means your money is 100% protected up to the FDIC limits. Learn more about FDIC coverage here.

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Learn More About Your New Account.

Read our disclosures about our Money Market Savings accounts here.

The Holiday Season is for joy.

Why Christmas Club?

Plan your holiday spending with the Waterman Christmas Club account. With features like automatic transfers and online banking we make it easy to achieve your saving goals.

This dedicated Christmas Club account has no fees and a competitive rate, start your account with $1 today.

Our Process

Step 1
Gather your documentation
Step 2
Complete an application
Step 3
Personalized Service Call

Learn more about our process to open a new account at Waterman.

A Full-service bank at your fingertips.

Bank from Anywhere with Waterman Bank Mobile

  • Mobile Deposit
  • View Account History
  • Transfer Between Accounts
  • Set Account Alerts
  • Security and Convenience

Learn more about our
Waterman Bank Mobile App here.

See your Potential Savings.

Savings Calculator

Use this free Savings Calculator to see what potential savings your could have today. For further analysis and details into your specific savings plan, contact us to discuss options.

Savings Calculator


Most frequent questions and answers for Waterman Christmas Club

A Waterman Christmas Club is a short-term savings account that earns interest and encourages you to save for the holiday season.

Yes, this Christmas Club account is FDIC-insured up to the allowable limits.

  • Submit a wire transfer
  • Request a telephone transfer
  • Use online banking to move money between Waterman Bank accounts
  • Transfer money between external accounts using Bill Pay

Christmas club account funds are held till mid-October each year right before the holiday season. After which a check is issued for full balance amount.

There are several ways to make a deposit:

  • Transfer money online between Waterman Bank accounts
  • Deposit a check with Waterman Bank Mobile app with mobile deposit
  • Sign up for direct deposit with your employer or for your Social Security deposits
  • Wire transfer
  • Send us a check by U.S. mail (Please don’t send cash)
  • Transfer money between external accounts using Bill Pay
  • Make an in-person cash or check deposit a Waterman branch

Yes. You can assign individuals as Payable on Death beneficiaries, which means while you’re alive the beneficiaries won’t have access to anything in the account. There are certain situations where beneficiaries are handled differently, like when dealing with a Joint with Survivorship accounts or Trust accounts when the Trustee is controlling the funds for another party. Assigning beneficiaries can give you peace of mind and can result in increased FDIC coverage for your accounts up to the legal allowable limits. For additional questions or concerns, contact us at 815-264-3201 or

Waterman Bank is here to help.

At Waterman we believe in serving all the people in our communities, understanding your needs and finding the right solutions to meet them. Whether your goals are big or small we are only a phone call or email away, we’re here to help.