Wright-Patt Credit Union (WPCU) is giving $10.5 million back to its members in the form of a Special Patronage Dividend. This is the largest amount WPCU has ever returned to its membership for a calendar year.
Each member's share of the $10.5 million Special Patronage Dividend is based on the number of relationships with WPCU during the 2021 calendar year. Point values and dollar amounts are assigned to specific WPCU products, resources, and services that members use.
WPCU is a not-for-profit cooperative, which means members are owners of the credit union, and therefore share in a portion of the credit union's profits. In addition, members enjoy returned value from WPCU in the form of fewer fees, affordable rates, and tools to improve financial wellbeing. “As a cooperative, we strive to maximize the benefits our members can take advantage of," said Tracy Szarzi-Fors, Vice President of Marketing and Business Development. “Giving more back to our members means they have more opportunities for healthy finances."
A Special Patronage Dividend can only be dispersed to credit union members if WPCU has an excess of reserves at the end of a calendar year. WPCU never budgets for a yearly dividend, and they are never guaranteed as a benefit of membership.
Members can expect their payouts to occur on January 4, 2022. Since 2008, WPCU has given back $94 million to its members in the form of a yearly dividend.
To learn how more about the Special Patronage Dividend from WPCU, please visit wpcu.coop/PD2021.
Download the Press Release here.