Earthmover Credit Union, Oswego, Ill., on Monday said in recognition of its “strong financial position” in 2016, the CU’s board of directors has authorized a loyalty bonus payout of $500,000.
The $248 million ECU said the dividend will be paid to qualified members whose activity with ECU “contributed to Earthmover’s success” last year. The loyalty reward will be paid automatically to qualifying members this month.
The amount of the loyalty reward each member will receive will be based on the member’s activity with ECU in 2016 related to three areas of business: savings, loans and active products. “This giving back is what makes credit unions a little different from other financial institutions,” Earthmover CU said in a statement.
In addition to the $500,000 loyalty bonus, ECU is donating a total of $10,000 to three local charities selected by ECU staff: Mutual Ground, The Humane Society of Aurora and Kendall County Community Food Pantry. Earthmover Credit Union is asking ECU members and non-members living in its surrounding community to cast a vote daily now through May 31 on the credit union’s website to determine which charity will get $5,000, $3,500 or $1,500.
Earthmover Credit Union is privately insured by American Share Insurance. ECU has been serving its members for more than 50 years. Membership is available to anyone living or working in one of the following counties: Kendall, Kane, DuPage, Will (north of I-80), LaSalle (north of I-80), DeKalb (south of I-88). ECU currently serves more than 25,000 members at its six branch offices, located in Yorkville, Montgomery, Oswego, Aurora and North Aurora, as well as a student-run branch in Oswego High School.