CENTENIAL, Colo.–Metrum Community Credit Union said it is moving to a program that disburses dividend payments to members all year long.
During 2018 Metrum Community said it plans to give back to members every month through a new “Metrum Ownership Rewards” program. Active members will receive monthly rebates on the interest they pay on loans and bonus interest on their savings and investments, the CU said.
“Several years ago, Metrum Community Credit Union set out to be a better cooperative,” Metrum CEO Steve Kelly told The Villager. “This began at the business level as we started working with more vendors that were also cooperatives. Working with other like businesses allows us to give profits back to our owners.”
In 2017, 1,995 members, or 37% of its total membership, received the year-end patronage dividend. In 2018, the initiative aims to issue monthly payouts and provide more rebates on fees. The program gave back $30,000 to members in 2017, representing a 7.55% return of the credit union’s 2017 operating net income.