FAIRBORN, Ohio – Wright-Patt CU said yesterday it will pay members a total of $4 million in a special patronage dividend, the second year in a row for the holiday payout.
The $1.7 billion credit union reported a $13.2 million net for the first three quarters of the year, even after reporting a $9.9 million assessment for the corporate credit union bailout.
An estimated 160,000 members will be eligible for the special payout on Jan. 4, 2010. To be eligible for the Patronage Dividend, an individual must be a member of record on the announcement date of Dec. 1 through the payment date of Jan. 4, be a member in good standing, and own at least one account (loan or deposit) with a balance of $100 or more, or have had transaction activity on at least one account during the previous 12 months.
The greater the relationship members have with the credit union, the greater their dividend. The minimum dividend eligible members will receive is $10. However, some members will receive hundreds of dollars based on their credit union loyalty in 2009. Last year’s payout was $3 million.
