Qualstar Credit Union Paying Out $2.5 Million in Loyalty Bonuses to 35,000 Local Members
January 15, 2013
January 15, 2013
Qualstar Credit Union is thanking its members for their continued loyalty by giving them back $2.5 million in bonus dividends this month. Individual bonus dividends range from $5 to several thousand, with the average member receiving a bonus dividend of $72.
“We have extremely loyal members,” Qualstar CEO Mark Nelson said, “and last year their loyalty helped us have our most profitable year ever. We felt that with the exceptional earnings we saw as a result of that loyalty, the best way to thank them is to give back to those members who helped make that happen. While we know we won’t be in a position to do this every year, the board of directors and management team felt our members should share in the success of their credit union.”
Members of the Bellevue, Wash.-based credit union aren’t just earning dividends based on their deposit balances. They are also being paid out based on loan balances, types of loans, and other services that help reduce expenses to the credit union, including home banking and eStatements.
“This isn’t about who has the most money on deposit. It’s about thanking all of our members for their contribution to our success,” said Tracey Elfstrom, Qualstar’s vice president of member relations. “Whether they have a large Money Market balance, a mortgage loan or a Visa credit card, it all matters. It’s all important—and they all deserve to benefit as a result.”
A letter announcing the Loyalty Bonus was mailed out to members Jan. 14, and the bonuses will be deposited into member accounts on Jan. 28. More details are available at Qualstar’s dedicated Loyalty Bonus webpage.
Qualstar Credit Union is a $327 million financial cooperative that has served the Puget Sound area for more than 60 years. Originally chartered in 1952 by a small group of Safeway employees, Qualstar is one of the leading credit unions in Washington serving 49,000 members including employees of Safeway, King County/Metro, and many local labor unions. Anyone living or working in Washington State is eligible to become a member of Qualstar Credit Union. For more information, visit www.qualstarcu.com.
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