FAIRBORN, Ohio – Wright-Patt CU, on pace for its best year ever, announced this afternoon it is paying members a $6 million Special Patronage Dividend Jan. 3, its biggest member payout yet.
The $2.5 billion credit union, which earned a record $30.8 million net for the first three quarters of the year, will share the payout with 230,000 members.
Last year’s payout was $5 million, and the year before it was $4 million.
To be eligible for the Special Patronage Dividend, a member must be in good standing both currently and at the payment date. Many members will easily receive $15 just for having an active debit card, using home or mobile banking and having eStatements. However, some members will receive hundreds of dollars due to the relationships they have with the credit union. The more use of the credit union, the greater the dividend.
“Our ability to pay a dividend each year depends on many factors – the most important of which is that members are involved with and using their credit union,” said Doug Fecher, president of Wright-Patt. “The more relationships our members have with their credit union, the greater the revenue available to pay expenses and strengthen safety reserves.”