ELKO, Nev. – Elko FCU has announced a total bonus payout and dividend of $750,000 to members through the 2023 calendar year. Deposited to accounts in January, the $750,000 member payout is its largest single-year dividend and payout in its 64-year history, according to the $263-million Elko Federal.
The credit union estimates that member payouts over the last six years exceeded $2.2 million.
The member payout for 2023 includes $450,000 in share bonus dividends for primary share account holders who qualified. The payout also includes $300,000 in loan interest refunds paid to EFCU borrowers, the credit union said.
‘Tremendous Trust’
“EFCU’s ability to pay dividends at this level is a result of the tremendous trust that our members place with us,” said President and CEO Todd Sorenson. “We want to put the benefits of these dividends back into the hands of our members and to provide a refund of loan interest to have a positive impact the overall financial wellness of our members and the businesses we are associated with. Our commitment to our communities is second to none.”
Elko Federal has more than 16,000 members.
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