THUNDER BAY, Ont.– For the third straight year Copperfin Credit Union is paying a bonus dividend to its members, in this case almost $400,000.
Approximately 6,000 Copperfin members will be receiving a return ranging between $35 and $1,300.
“Dividends were shared proportionately to the amount of business members have with Copperfin, and how much profit that business generated” said Allison Kasper, SVP business and social impact, in a statement. “Any member with an average of $10,000 in combined deposits, loans and investments in 2016 received a dividend, and an additional multiplier was applied if that business generated at least $200 in profit over the year.”
Copperfin also announced that it will be investing $100,000 more to community initiatives in 2017 compared to 2016, which includes charitable donations, scholarships and sponsorships.
“Through numerous surveys and discussions our members made it clear that giving back to the community was becoming more and more important to them, even in comparison to receiving dividends. So, we listened!” said Kasper. “This increased commitment to our community ensures we continue to make meaningful impacts to the places we call home.”