LIBBY, Mont.–Lincoln County Credit Union here has announced a $600,000 Patronage Dividend for its members.
The special dividend was announced during the credit union’s annual membership meeting.
LCCU said funds are being “deposited directly into members’ accounts to reward them for their years of membership and choosing to use the products and services offered by the locally member-owned financial cooperative.”
In 1997, as part of its 40th Anniversary Celebration, LCCU announced the first patronage dividend of $100,000.
“It is wonderful to be able to be a part of an organization that strives to live out the mission of people-helping-people. This didn’t just happen overnight," said Lindsay Beaty, president at LCCU. "It is because of all the previous years of financial planning that positioned the credit union with the financial capacity to distribute $600,000 to the membership this year. The planning for the patronage dividend started over a year ago.”
One member told the credit union, “This couldn’t have come at a better time. I’m going to pay forward a portion of the patronage dividend to charities that share my passion.”
The $110-million Lincoln County CU has 5,600 members.