Lincoln County Credit Union, a $112 million-asset institution based in Libby, Mont., announced is set to distribute a $600,000 patronage dividend to its membership.
The rebate, LCCU explained, will be paid out based on the proportion of profit made by the business. The funds will be deposited directly into members’ accounts as a reward.
In 1997, as part of the 40th Anniversary Celebration, LCCU announced its first patronage dividend of $100,000. LCCU has since been able to reward the membership with additional special dividend distributions throughout the last 20 years.
“It is wonderful to be able to be a part of an organization that strives to live out the mission of ‘people-helping-people.’ This didn’t just happen overnight," said Lindsay Beaty, president at LCCU. "It is because of all the previous years of financial planning that positioned the credit union with the financial capacity to distribute $600,000 to the membership this year. The planning for the patronage dividend started over a year ago.”