BORDERS MP WELCOMES POST OFFICE SAVINGS SCHEME

12.51.49pm GMT Fri 21st Dec 2007

Borders MP Michael Moore has welcomed the Post Office's announcement of a new Christmas savings club for 2008.

The Post Office Christmas Club will fill a gap created by the collapse of savings company Farepak in 2006, which left hundreds of Borders families without vouchers and hampers they had saved for in the run up to Christmas.

Customers will be able to start saving money for Christmas 2008 at any Post Office branch from next month. They will be issued with a Christmas Club card which they can use to make deposits over the counter at their convenience.

Mr Moore said:

"The Farepak collapse last year left many families in the Borders facing a very bleak Christmas. Many families prefer to use a Christmas Club as a way of spreading the costs throughout the year and to avoid getting into debt at what is an expensive time of year.

"So I am delighted that the Post Office has set up the Christmas Club to help families save in a way that is convenient and with a company that is trusted.

"It will also create added business for our much valued Post Offices, which are under threat of closure by the Labour Government as we go into 2008."