WHITEFISH, Mont. –Whitefish Credit Union is reporting it has hit a new milestone in its 90-year history by paying out $38 million in dividends to members during 2023, thanks in large part to a new offering.
The $2-billion credit union said it paid a share savings dividend rate of 1.90%.
“This significant dividend distribution, a record in the credit union’s history, was bolstered by the introduction of share certificates for the first time – a pivotal development in the institution’s legacy,” Whitefish CU said.
Added President and CEO James Kenyon, “I am immensely proud to announce this historic dividend to our members. This milestone, the largest in our 90-year history, is more than just a number – it’s a testament to our unwavering commitment to our members and the community we serve. At Whitefish Credit Union, we believe our success is directly linked to the financial well-being of our members. By returning $38 million in dividends in 2023, we are expressing our gratitude to our members for their trust and loyalty.
Not Just a Financial Transaction
“This action goes beyond a mere financial transaction; it’s an investment into the people and businesses of Western Montana. We’re not just a credit union; we’re a community, growing and thriving together,” Kenyon added.
The record-breaking dividend distribution was bolstered by the “enthusiastic adoption” of the newly launched share certificates, WCU stated.
The offerings included a 5.00% APY 4- month share certificate.
Whitefish CU has more than 60,000 members.
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