ARVADA, Colo. – Partner Colorado Credit Union will pay its members a record $1 million in a pre-holiday bonus dividend on Dec. 4.
The $301 million credit union's board of directors voted to give back $1 million to members because of the CU's "growth, success and financial strength in 2015," the credit union said in a statement Tuesday.
More than 25,000 members will receive a bonus dividend. The average bonus dividend is $59.27, and the highest is $200.
Members 18 and older, in good standing, who have been with the credit union at least six months, are eligible to receive a bonus dividend, the CU explained. Bonus dividends are calculated based on the member's financial relationships with Partner Colorado including:
- The number of products and services
- Loan and deposit balances
- The number of years as a member
"The bonus dividend is an ideal way for us to thank our members and share our success," said Sundie Seefried, Partner Colorado's president and CEO. "Our ability to pay a dividend each year largely depends on member involvement – the more relationships our members have with their credit union, the greater the revenue available."
Partner Colorado noted it paid its members bonus dividends in 2012 ($700,000) and 2013 ($600,000), for a total of $2.3 million the CU has given back to members over the past three years. The marketing theme for this year's bonus dividend is "Thanks a Million…Literally."
Established in 1931, Partner Colorado CU has grown to serve more than 31,000 members through six locations in the Denver Metro area.
