Workers Credit Union, Fitchburg, Mass., on Tuesday said it deposited $3.3 million into its members' accounts – a participation reward based on account and loan balances those members had during 2016.
This is the fourth consecutive year the $1.5 billion institution has rewarded members for doing business with the community-based credit union.
According to Doug Petersen, president and CEO, the credit union continues to receive positive feedback on the payout.
“Our members really appreciate being recognized, through our GiveBack program, for doing business with a locally based organization,” Petersen said in a statement. “We are one of a handful of financial institutions across the country to offer this type of member benefit.”
The GiveBack amount is based on the average balance for the year in all eligible deposit and loan accounts. The Workers’ board of directors approved the new round of payouts, Petersen said, because the credit union is doing so well financially.
“We saw strong growth again last year, thanks to our members' confidence in us,” he said.
The credit union
