Whitefish Credit Union last week announced a 1.08 percent dividend for the six- month period ending on Dec. 31, 2017.
This dividend represents a 15 percent increase from the 0.94 percent dividend declared on June 30, 2017. The credit union has paid over $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. “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.”
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. Dividends are based on the average daily balance of an active share account, and they are paid semiannually.
Whitefish Credit Union is a not-for-profit financial institution and the largest credit union in Montana. For more information, visit WhitefishCU.com.