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Rotary Club of Taieri youth committee chairman Trevor Millar said the Mosgiel Giving Tree was installed in ANZ Mosgiel on Friday.
The decorations ANZ staff put on the tree include scores of Christmas cards containing the age and gender of the child.
Mr Millar, of Mosgiel, said people could take a card and buy a present suitable for that child.
The present then needed to be wrapped and placed under the tree before Friday, December 18.
The Mosgiel Foodbank, which had provided the children’s ages and genders, would include the presents in a Christmas hamper to families who used the service.
"About 250 presents are needed," Mr Millar said.
People could buy a present anywhere but if a card was taken to The Warehouse in Mosgiel, a 30% discount would be given.
Rotary Club of Taieri member Susan Wyngaarden-Low said it was an easy decision to continue organising the initiative.
"Everyone wants to be involved in helping children — the thought of a child not having a Christmas present on Christmas Day is pretty devastating," Mrs Wyngaarden-Low said.