OGDEN, Utah–Credit unions have begun announcing their year-end 2021 bonus dividends.
Goldenwest Credit Union said it will pay out to members some $2.2 million on Dec. 31 via year-end bonus dividends. The credit union noted that for the past 17 years it has paid out $17.4-million in such dividends to members.
“We are grateful to experience another successful year, giving us the opportunity to reward our members with a 4.25% bonus dividend,” said Chairman Bill Hart in a statement on the CU’s website. “The Credit Union continues to thrive even with all of the unique challenges we have faced across the nation during the pandemic.”
How Dividend Will be Paid
According to Goldenwest, the one-time dividend of 4.25% Annual Percentage Yield (APY) will be paid on top of the stated monthly dividend of 0.05% APY. Members will earn 4.30% APY for the month of December on primary shares, secondary shares, Christmas Club shares, and IRA shares. Dividend earning amounts will vary by member based on the average daily balance in their individual accounts over the 2020 calendar year.
“Paying a bonus dividend is one of many ways we demonstrate our appreciation to the members of the Credit Union,” said Kerry Wahlen, president/CEO. “We are proud to give back $2.2 million to our members this year.”
The $2.43-billion Goldenwest has approximately 160,000 members.