LAS VEGAS–Clark County Credit Union has announced a $1.5 million payout to members as part of Bonus Dividend Day.
The payout follows other support to members since the pandemic began, including 6,503 skip payments representing $4.35 million in deferred loan payments and nearly $160,000 in fees waived.
This year’s payment brings CCCU’s Bonus Dividend grand total to $68,319,240 put back into the Southern Nevada economy over the last 21 years, CCCU stated.
All members in good standing received at least $20 deposited into their accounts this month. The average amount paid was $32.88, although many members receive hundreds if not thousands of dollars, CCCU reported. The maximum dividend paid was $4,827.84.
“There’s no doubt our members could use this year’s bonus dividend more than ever,” said President/CEO Matt Kershaw. “We are fortunate as a credit union to be able to continue our commitment to the bonus dividend our members look forward to getting back every year.”
Many members keep their bonus dividend as extra savings, pay down a bill or use it as fun money, CCCU said, adding Alfred Hurtado, a CCCU member since 1959, who has enjoyed using the bonus dividend to help pay for multiple vacations. “We’ve gone to Spain, went on an Alaskan cruise, and another year we went on a river cruise in Amsterdam,” said Hurtado.
The dividend payment is calculated based on average annual daily balances and how long the account is open, for both deposits and loans of any type including auto loans, new home construction loans or commercial loans.
The $1-billion Clark County CU has more than 47,000 members.