DUBUQUE, Iowa—Dupaco Credit Union has distributed $3.6-million in bonus dividends to 58,665 members who participate in its “Thank Use” program. The funds were distributed in conjunction with International Credit Union Day.
The special payout was part of the credit union’s nine-month Thank Use program that ran from Jan. 1 through Sept. 30. The credit union said Thank Use is a way to demonstrate the power of Dupaco’s member-owned, cooperative structure.
“Dupaco is more than local. It’s a financial cooperative, owned by people in our community,” said Dupaco Chief Marketing Officer David Klavitter. “The more members use their credit union, the more members, the community, and Dupaco benefit.”
The Thank Use campaign rewarded members in relation to each member’s active participation in the credit union. Those recognized services included loans, savings, checking, insurance, investments, debit card, credit card, mobile deposit, credit score monitoring and e-statements.
As a group, members earned an additional dividend as a result of more than 53,500 members participating in Thank Use 2019.
Sharing the Success
“As a cooperative, our members work together for the betterment of themselves and the cooperative,” said Klavitter. “Education is rooted in our mission and when we achieve tangible results, we share that success with our member/owners.”
An active share draft checking account was required to unlock the payout, Dupaco said.
The average dividend this year was $62. This is the fourth consecutive year a bonus dividend has been paid. Since 2016, Dupaco said it has paid directly to member/owners more than $12.3 million in Thank Use participation dividends. The credit union is making plans for a 2020 Thank Use participation dividend for members.
Members can view their dividends by logging into Dupaco’s Shine Online Banking.
For more info: dupaco.com/ThankUse.