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Missouri Credit Unions Give Back to Their Members

As a way of expressing their thanks, credit unions around the state are giving back dividends - real money - to their members for using products and services.

In St. Louis, Neighbors Credit Union returned a 1.15% APY special dividend to members in December, a full percentage point above its regular 0.15% APY.

"We had another great year and would like to thank our members," says John Servos, Neighbors president and CEO. "We've grown our business by thinking about what's best for our members and we always strive to do what's in their very best interest. It's how we have grown for the past 86 years and have no intention of stopping now."

Horizon Credit Union (Macon) gave back loan rebates and bonus dividends in the amount of $10,308 to its members. This is the 13th consecutive year making the total amount given back $263,238.

CommunityAmerica Credit Union (Kansas City) returned more than $6 million to members through its Profit Payout program, with eligible members seeing an average return of $90. 

This is the third consecutive year the $1.9 billion credit union has returned $5 million or more to the membership, and the 19th consecutive year it has issued a dividend. Members' individual payouts are based on how many products and services they have with the credit union, and associated account balances.

CommunityAmerica CEO Dennis Pierce said the program highlights one of the credit union's core differentiators. 

"Our Profit Payout is just one of the many ways we work hard to advance our members' financial standing and well-being," says Pierce. "Couple that with our unparalleled member service and it's not surprising that more and more Kansas citizens are discovering that they can become part of something better by banking with CommunityAmerica."

Electro Savings Credit Union (St. Louis) members who actively use the credit union’s products recently received a Member Appreciation Rebate. The credit union thanked its members with a combination of two rebates, a Savers Rebate and a Borrowers Rebate. The credit union’s Member Appreciation Rebate Program is designed to reward its members who actively use their Electro Savings checking account and have a loan or other deposit account at the credit union. Once a member qualifies with an active checking account, he or she is eligible to receive one or both of the two available rebates.

“As a not-for-profit financial cooperative, Electro Savings’ goal is to give back to our credit union members,” says President/CEO Stan Moeckli. “While other institutions are driven by profits, Electro Savings actively looks to return profits to our members who support the cooperative by actively using our products.”

The credit union more than doubled the number of members who received a rebate this year over last year. Its goal is to continue to grow the program each year to increase the number of members it rebates and the rebate amount each member receives.

Did your credit reward your members with a dividend or rebate? Let us know by sending an email with your information. 

Caption: CommunityAmerica Credit Union celebrated their members, like the couple above, with the Profit Payout program. Watch the video to see even more happy members. - https://www.youtube.com/watch?v=Uz10OnfZzng  

 

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