Dunedin residents seem to be saving more money for Christmas than anyone else in the South Island.

Figures have been compiled by NZCU South, in relation to the number of members opening Christmas-specific savings accounts.

In Dunedin more than $1.5m has already been saved in such accounts.

That's more than five times the amount saved overall in Christchurch.

There are more than 6000 Christmas accounts with NZCU South members.

In total they contain about $5m.