WILLIAMSVILLE, N.Y. – Western Division FCU paid its members its annual patronage dividend on Dec. 3, amounting to $780,000.
Processing Content
Each member who paid interest or received dividends in a sufficient amount to warrant a Patronage Dividend received approximately 15% of interest paid on loans and 120% of dividends received on savings during the year.
This Patronage Dividend is paid in addition to regular dividends paid quarterly, the credit union said.
“We like to think of our Patronage Dividend as our own economic stimulus package because a large portion of the almost $5.6 million we’ve distributed since 2003 has been put back into the local economy while also helping our members,” said Craig Mellenthien, president of the $125-million credit union.
