ARVADA, Colo.–Christmas comes early for members at two Colorado credit unions.
Partner Colorado Credit Union will pay its members a $1-million in pre-holiday bonus dividend on Friday, December 4. The marketing theme for this year’s bonus dividend is “Thanks a Million…Literally."
The credit union said its board of directors voted to give back $1 million to members due to the credit union's growth, success and financial strength in 2015.
More than 25,000 members will receive a bonus dividend. The average bonus dividend is $59.27, and the highest is $200.
Members 18 and older and in good standing who have been with the credit union at least six months are eligible to receive a bonus dividend. Bonus dividends are calculated based on the member’s financial relationships with Partner Colorado including:
- The number of products and services
- Loan and deposit balances
- The number of years as a member
“The bonus dividend is an ideal way for us to thank our members and share our success,” said Sundie Seefried, Partner Colorado president and CEO. “Our ability to pay a dividend each year largely depends on member involvement—the more relationships our members have with their credit union, the greater the revenue available.”
The $301-million Partner Colorado also paid its members bonus dividends in 2012 ($700,000) and 2013 ($600,000).
Meanwhile, in Colorado Springs, Colo., – Ent Federal Credit Union’s members received more than $3.4 million dollars in annual loan rebates as part of the credit union’s “Ent Extras” loan benefit program.
The Ent Extras program includes a loan payment grace period, alerts and push notifications and other loan-specific benefits – in addition to paying members annual loan rebates on every loan, every year. Annual loan rebate amounts range from $75 for a mortgage loan to $10 for a personal loan or line of credit, Ent said.
“In addition to our competitive rates and high quality, local service, we wanted to reward our members for having their loans with Ent,” said Randy Bernstein, Ent’s president and CEO. “We realize our members have a variety of financial institutions to choose from and we appreciate the opportunity to serve them.”