MADDOCK, N.D.–North Star Community Credit Union has announced a $1-million bonus dividend payout to its members. The announcement comes as the credit union is also marking its 80th year anniversary.
“It is our privilege to serve the members of our communities as a trusted financial partner,” North Star President and CEO Bob Herrington said in a statement. “After a successful year of growth in 2019, we are proud to announce the $1-million bonus dividend for our members.”
According to the credit union, each member’s dividend will be calculated based upon their contribution to North Star, with each receiving a minimum of $5 with additional dividends paid based on average deposits and total loan interest paid as of Dec. 31, 2019.
“We remain committed to our members and look forward to serving them throughout what is sure to be a tumultuous 2020 as our country deals with the health and economic crisis caused by COVID-19,” Herrington added.
The $310-million North Star Community CU has nearly 20,000 members.
The dividend was first reported by the Credit Union Association of the Dakotas.