Start saving for Christmas 2021 NOW with the CFAL Holiday Savings Challenge! Sign up from December 15, 2020 - January 15, 2021 and you could win $1,000 in next year's "Christmas bonus" drawing.
Review the Challenge details below, then complete the application form found on this page. Ready, set, SAVE!
HOLIDAY SAVINGS CHALLENGE FAQs
Q: Can I give more than the monthly contribution?
A: No. The challenge requires weekly contributions of $25.00, or monthly contributions of $100.00 for a 4-week month or $125.00 for a 5-week month period (see flyer for schedule). If you are interested in an option other than the challenge, a CFAL representative can discuss other investment options available to you such as the CFAL Savings Express Program or the CFAL Family of Funds.
Q: Do you accept cash?
A: Cash contributions are not allowed. Contributions can be paid via on-line transfer.
Q: What documents do I need to participate in the Holiday Savings Challenge?
A: Passport, NIB card, Driver's License and a current Proof of Address (recent utility bill or voters card).
A: When is the deadline to submit the application form? The program begins December 15, 2020, and the absolute deadline to submit the application form is January 15, 2021. All initial payments must be made by January 15, 2021 and thereafter on Fridays.
Q: What happens if I miss a month’s contribution?
A: If you miss one or more payments, you will only receive credit for the money that you have contributed to the program. You will not be eligible to enter the $1,000.00 Christmas bonus drawing on December 13, 2021.
Q: What happens if I decide I no longer wish to participate in the Holiday Savings Challenge?
A: If you no longer wish to participate in the Holiday Savings Challenge, the funds deposited will remain in the program until December 10, 2021. On this date, you will receive only the money that you have contributed, plus the interest earned.
Q: How often am I required to make contributions?
A: Contributions are made monthly ($100/$125) on the first Friday of each month or weekly ($25) every Friday.
Q: Is there an option for the savings to rollover into the next year rather than receiving the December 10, 2021 payout?
A: There is no rollover option. All funds will be paid out on December 10, 2021.
Q: Who do I contact if I have questions?
A: Please contact Claudia Thompson, Christina Sands, Sasha Bain, or Richard Pinder at 502-7010 or via email at firstname.lastname@example.org.