SOUTH ST. PAUL, Minn.–Calling it a “powerful demonstration of the cooperative spirit and the credit union difference,” Wakota Federal Credit Union said it is paying its members more than $75,000 in Patronage Dividends to its member-owners.
The $45.6-million Wakota FCU said the payout reflects the credit union’s solid financial performance this year and its commitment to sharing success directly with the people it serves.
“Returning earnings to our members is at the heart of who we are,” President and CEO Mary Matheson said in a statement. “This patronage dividend shows that when our members borrow, save, and use our products and services, the entire financial cooperative benefits. We’re proud to give those dollars right back to the community.”
Focus on ‘Member Value’
The Patronage Dividend was automatically deposited into eligible members’ savings accounts on Dec. 15. Dividend amounts were based on individual participation and overall relationship with the credit union.
“This payout reinforces the credit union’s focus on member value, responsible financial management, and sustainable growth,” the credit union said.
