Valley Credit Union Gives $250,000 Back to Members
March 16, 2021
As not-for-profit cooperatives, credit unions are focused on keeping money where it belongs — with their members. With no stockholders to pay, they return profits to members in the form of better loan rates, fewer fees, and dividends.
Valley Credit Union, based in Salem, recently announced it has shared ownership dividends with its 5,263 members for the second year in a row.
The $250,000 dividend is a way to recognize the credit union’s valued members and to thank them for their contribution to the continued success of Valley. The payout was based on the members’ deposit and borrowing activity throughout 2020. Additionally, members who’ve maintained a relationship with the credit union for at least 20 years received a special “legacy” dividend.
“As a credit union, we are focused on providing value to our members who are also our owners. We have a history of offering competitive rates, low fees, and great service,” said Valley Credit Union President and CEO, Pat Force. “In 2020, we were there to support our members who were struggling with emergency loans and deferred loan payments. We’re proud to again share with our members, especially during this challenging time.”
The average payout was $55.49, and funds were deposited into members’ ownership accounts.
NWCUA wants to hear about all the many ways credit unions are giving back to their members. Send us an email and share your credit union’s story!
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