INTERNATIONAL FALLS, Minn.–TruStar FCU has announced it is paying out a patronage dividend to its members for the fifth consecutive year.
The credit union is paying out $750,000 to be divided between savers and borrowers, depending on balances.
“When our capital exceeds our goal for the year, the excess is returned to our members in the form of a patronage dividend,” Dale Johnson, president/CEO, told the International Falls Tribune.
Since 2013, TruStar FCU has paid out nearly $3.75 million in bonuses/rebates.
“That number rises to just over $4 million when you consider our debit rewards program” Johnson was quoted as saying. “These are perfect examples of what being a member of a financial cooperative is all about – access to products designed to benefit all members and sharing in the success of the business.”
The $230-million TruStar has approximately 15,000 members.