WINNIPEG, Manitoba–Steinbach Credit Union here is paying a $7.5 million rebate to members. The bonus is being equally divided between savers and borrowers.
“This is our way of celebrating success as a co-operative and showing our appreciation in a tangible way. We give benefits to our members who allowed us to get where we are today,” said Chairman Reg Penner. “We have enjoyed serving our members for over 75 years and are delighted to share this patronage with them. Sharing with our members is one of the many ways SCU is different from other banks.”
Bonus deposits will be made by direct deposit to qualifying accounts by March 24, 2017.
“SCU is all about the members. We are always focused on going above and beyond for our members,” said Glenn Friesen, CEO of Steinbach Credit Union. “We believe this focus is demonstrated in everything we do – from our friendly service and competitive rates to our staff’s knowledge and expertise.”
SCU hit $5 billion in assets by the end of 2016, its 75th year in operations. It was the first Manitoba credit union to reach this milestone. SCU has paid out nearly $40 million in cash back bonus to its members since 2000.