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Any photos not otherwise credited are from the personal collection of Frank Passic, Albion Historian.
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Morning Star, December 19, 2021, pg. 5 A very Merry Christmas to my readers of this column! I thank you very much for your support and encouragement, as well as providing me with historical photos and items from Albion which help me in producing this column. Your help is greatly appreciated. Remember when banks used to have "Christmas Clubs?" That was a common service which banks offered years ago. You would put in a particular pre-determined amount of money (25¢, 50¢, $1, $2, $5, $10, or $20) each week for 50 weeks into a special savings account on a regular basis. At the beginning of December, the bank would issue you a check for the amount of your savings, and that became your Christmas money in which to purchase gifts. No doubt, this was in the days before credit cards. From our Historical Notebook this week we present a 1927 Christmas Club advertising "ink blotter" from the Commercial & Savings Bank in downtown Albion. This colorful blotter with a red border measures approximately 9 ½ x 3 ½ inches in size. In the upper right are three wise men, with mistletoe below. This blotter states that checks would be mailed around December 7, 1927. Various savings increments and payment results are listed. For example, if you paid 50¢ a week for 50 weeks, you’d get a check for $25.00. The text also states, "Interest at the rate of 3% per annum will be added to all fully paid memberships." Gosh, that’s more than banks pay for savings accounts now! Of course, you didn’t need a "Christmas Club" to save money, but it was a disciplined way to save for a specific purpose. How many of our readers had "Christmas Clubs" while growing up?  Commercial & Savings Bank 1927 Christmas Club "ink blotter"
All text copyright, 2024 © all rights reserved Frank Passic
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