Share Dividend and Patronage Refund
by SCU | Feb 20, 2019 | Notice |
2018 Share Dividend and Patronage Refund
Sharons Credit Union truly values its members and their business. The Share Dividend and Patronage Refund Program is the credit union’s special way of expressing appreciation.
What is the Share Dividend and Patronage Refund Program?
The credit union has been sharing its profits with members for the last 30 years since 1989 through the Share Dividend and Patronage Refund Program. The program rewards eligible members for being a valued, active owner of the credit union.
Eligible members earn their rebate based on the accounts they have and their level of activity.
Products applicable for the dividend and rebate program are (non-dividend exempt):
- Investment Share Accounts
- Residential and/or Commercial Mortgages
- Primeline linked to Residential and/or Commercial Mortgages
The Board of Directors has approved the 2018 dividend at 3.0% on Equity Shares and 7.5% for eligible interest paid on loan products mentioned above. A total of $816,803 will be disbursed, resulting in an 18.0% increase from 2017.
Sharons Credit Union is devoted to giving back and supporting local communities. In 2018, the credit union made $122,278 in donations and sponsorships to various community groups. The rebate program is among the many ways the credit union practices its core values of sharing its profits in an effective and transparent manner.