DUBUQUE, Iowa—More than 50,000 members who have been participating in Dupaco Community Credit Union’s Thank Use program received their share of more than $2.6 million as part of the credit union’s nine-month campaign.
Thank Use is a way to demonstrate the power of Dupaco’s member-owned, cooperative structure, according to Dupaco Chief Marketing Officer David Klavitter, who recently also shared details of the program with CUToday.info’s CUTomorrow Conference.
The timeframe to earn Thank Use was Jan. 1 through Sept. 30. The participating member payout coincided with International Credit Union Day.
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, credit card and e-statements.
As a group, members also earned an additional dividend as a result of more than 83.4% of participating members maintaining or improving their credit scores, Dupaco reported.
More Use, More Benefits
“Dupaco is more than local. It’s a financial cooperative, owned by people in our community,” said Klavitter. “The more members use their credit union, the more members, the community, and Dupaco benefit.”
An active share draft checking account was required to unlock the payout. The average dividend this year was $53.
Dupaco reported it has paid directly to member/owners nearly $9 million in Thank Use participation dividends since the program launched in 2016. The credit union is making plans for a 2019 Thank Use participation dividend for members.
Members can view their dividends by logging into Dupaco’s Shine Online Banking.