Who is eligible for Member Bonus Payout?
Members must have an open Checking, Savings or Money Market account in which to receive the payout and earned a bonus of at least $5 to qualify.
How do I find out how much I received?
To see how much you were paid:
- Log in to your online account or the mobile app and check your account history, OR
- Check your December 2022 month-end statement for your payout amount.
Member Bonus Payouts were deposited to qualifying members’ accounts on December 31, 2022.
Eligible payouts for Loan Interest Refund, Bonus Dividend and Mortgage Origination Bonus were combined into a single Member Bonus Payout amount as applicable.
Reminder: Payouts are deposited to your primary account.
How was my Member Bonus Payout calculated?
Members have the opportunity to earn a payout in one or more of the following ways:
- Loan Interest Refund – based on the amount of interest paid on each qualifying loan or credit card account.
- Bonus Dividend – based on your year-to-date dividends earned from all deposit products, including Certificates.
- Mortgage Origination Bonus – a one-time bonus equal to one-tenth of one percent of the original loan amount.
All of the amounts earned were combined into a single Member Bonus Payout and deposited to your primary account.
How do I qualify for the Member Bonus Payout?
You must have an open Checking, Savings or Money Market account in which to receive the payout and earned a bonus of at least $5 to qualify. Your account must have been opened by December 31, 2022, to be eligible.
Loans that are delinquent more than 60 days are not eligible to receive a loan interest refund.
Where does money from the Member Bonus Payouts come from?
When the credit union exceeds financial performance expectations for the year, a percentage is given back to our members in the form of the Member Bonus Payout on December 31.
Payouts range from a minimum of $5 to a maximum amount of $5,000. Not all members may qualify.