MADISON, Wis.—Summit Credit Union has announced a $2.3-million patronage dividend for its members as a part of its Cash Boomerang program.
Summit said more than 55,000 members have been notified of their payouts, with the amount received per individual determined by the financial success of Summit Credit Union, along with the member’s saving and borrowing activity between Oct. 1, 2017, and Sept. 30, 2018.
With this year’s total, Summit said it has paid out more than $9 million in payouts since the incentive program began five years ago. In 2017, the payout was $2.08 million.
“We had another successful year in 2018, largely due to the consumers who bank with us, and we’re proud to reward them this year through Cash Boomerang,” said Summit Credit Union CEO and President Kim Sponem.