WHITEFISH, Mont. — Whitefish Credit Union has announced a 1.08% dividend for the six-month period ending on Dec. 31, 2017.
WCU said the dividend represents a 15% increase from the 0.94% dividend declared on June 30, 2017.
Whitefish CU reported it has paid more than $12.5 million in dividends to its more than 55,000 member-owners over the past year, which represents the largest dividend paid since 2010.
“What makes banking with a financial cooperative unique is account holders sharing in the success of the credit union,” said Jim Kenyon, president and CEO of Whitefish Credit Union, in a statement. “We are proud to return to our members the largest dividend in the past seven years, while also maintaining our position as one of the strongest financial institutions in the state.”
WCU said the dividend outperforms the national average for a savings account by more than five times, and it exceeds the interest rate of most money market and certificate deposit accounts. Whitefish Credit Union does not require a minimum balance, or a deposit term, for members to receive dividends on their share accounts.