PHOENIX–Desert Financial Credit Union said it is returning $20 million to members as part of its annual Member Giveback Bonus, a 25% increase from its 2023 bonus.
This year’s Member Giveback Bonus brings the total distributed bonuses to $90 million over the past seven years. In 2024, members who qualify will receive an average giveback bonus of $114, Desert Financial reported.
The $8-billion Desert Financial has more than 400,000 members.
A Differentiator
“Our annual giveback bonus is what differentiates Desert Financial from a typical bank,” President and CEO Jeff Meshey said in a statement. “We are not beholden to stockholders, but to each of our members and their financial success.”
In addition to the Member Giveback Bonus, Desert Financial reported its employees invested in the community in many ways in 2023, including volunteering, scholarships, grants for local non-profits and even holiday food drives.
Additional Givebacks
Examples included:
- Team members volunteered a record-breaking 18,492 hours.
- Desert Financial gave $4.5 million to the community through corporate, foundation and employee giving, impacting 125 non-profit organizations, including $155,000 given to Arizona food banks for their holiday turkey drives.
- The Desert Financial Foundation provided 261 scholarships for high school seniors and adult learners returning to school to continue their education.
- Team members provided 13,390 Random Acts of Kindness, valued at $359,727.
- 15,505 individuals impacted by financial wellness content.
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