evolve Federal Credit Union, a $319 million institution based in El Paso, Texas, said that for the second consecutive it has given back $2 million to its members through a special patronage dividend which saw more than 12,500 members receive payments deposited into their main share accounts.
Representatives from the credit union said in a statement that this dividend was determined by each member’s product relationship at the credit union, with each product being given a percentage value in the calculation of the patronage dividend. The more services a member used, the higher their return.
"This patronage dividend is for those members who have made evolve Federal Credit Union their financial institution of choice,” Ken Walters, president and CEO of the credit union said in a statement. “2016 was an exciting and very successful year for the credit union.”
