Whitefish Credit Union on Wednesday said it paid a 1.08% dividend for the six-month period ending Dec. 31, 2017.
The $1.4 billion credit union, based in Whitefish, Mont., noted the most recent dividend represented a 15% increase from the 0.94% dividend it declared on June 30, 2017.
All told, the credit union said it paid more than $12.5 million in dividends to its more than 55,000 member-owners over the past year, which represented the largest dividend it paid since 2010.
Whitefish CU went on to note the dividend it paid in the second half of 2017 outperformed the national average for a savings account by more than five times, and it exceeded the interest rate of most money market and certificate deposit accounts. Whitefish Credit Union said it does not require a minimum balance or a specific deposit term for members to receive dividends on their share accounts. Dividends are based on the average daily balance of an active share account, and they are paid semiannually.
“What makes banking with a financial cooperative unique is account holders sharing in the success of the credit union,” Jim Kenyon, president and CEO of Whitefish Credit Union, said in a statement. “We are proud to return to our members the largest dividend in the past seven years, while also maintaining our position as one of the strongest financial institutions in the state.”
Whitefish Credit Union is open to residents in the Greater Flathead Valley and surrounding communities. For more information, visit WhitefishCU.com.