DUBUQUE, Iowa – It's going to be a happy holiday season for some Dupaco Community Credit Union members. The credit union has paid out $3 million in Christmas Club deposits to nearly 3,300 Dupaco Christmas Club members. According to Dupaco Community CU President/CEO, Bob Hoefer, these Christmas Club deposits also provide area businesses with an excellent opportunity. "As we approach the holiday season, we want local retailers to be aware that this large sum of money, which has been saved mainly for the purpose of holiday gift-giving, is being made available," said Hoefer. "We hope they will then act to attract the spending of these funds in the tri-state area for the benefit of the local economy." A Christmas Club is traditionally opened in November with small deposits made into the account weekly or bi-weekly throughout the year. On or about the following November 1, all savings, plus accumulated dividends, is paid out to the depositor automatically. According to Hoefer, Christmas Club accounts are the perfect way for individuals to avoid a "financial hangover" after the holidays. "By saving systematically in a Christmas Club account, which also earns daily dividends year round, members will be better prepared when the holidays arrive," said Hoefer. "With the credit union philosophy of `people helping people', it is our mission to promote thrift amongst our members. That's why we are proud to offer this type of account along with a corresponding incentive item when the account is first opened."