SACRAMENTO, Calif. — Members of Golden 1 CU will be getting an early holiday gift from their credit union, as the CU's $18 million "Member Giveback Distributions" hit savings accounts Wednesday.
The $8 billion institution said the distributions will be deposited directly into members' savings accounts derived as rebates on loan interest payments and supplemental dividends, based on 10% of loan interest paid and 10% of dividends earned on member accounts between Jan. 1 and Sept. 30.
The payouts will range from $5 up to a maximum of $1,000 each for members' loans and savings accounts.
"As a not-for-profit financial institution, we're driven by doing what is best for our members. This $18 million is just one of the many ways we are thanking our members," Golden 1 President and CEO Donna Bland said in a statement. "We're excited to give this reward to our members and continue to work with them to build financial strength together. This is the Golden 1 difference."
