Members of Western Division FCU share in dividend
Western Division Federal Credit Union members have something to be very thankful this holiday week. The members will share in a Patronage Dividend of over $750,000, once again proving that the value and benefits of being part of their financial cooperative is real and significant.
“Our goal — today and every day — is to help our members keep more of their hard-earned money. The active participation of both savers and borrowers contributed to our success this year. It allows members to see the difference between us rewarding their success while other financial institutions reward stockholders,” said Robert Harms, President/CEO.
All active members, in good standing, who paid interest or received dividends in a sufficient amount to warrant a Patronage Dividend received 110 percent of dividends on saving products and 55 percent of interest paid on loan products as of Sept. 30. This Patronage Dividend was paid in addition to regular dividends.
“We like to think of our Patronage Dividend as our own economic stimulus package because a large portion of the almost $7.7 million we’ve distributed since 2003 has been put back into the local economy while also helping our members,” said Board Chair, D. Samuel Loquasto.
Founded in 1937, Western Division is one of Western New York’s largest community credit unions providing financial services to Western New Yorkers. For more information, visit www.westerndivision.org.