Home Business & Finance Enterprises Dupaco Pays $2.6 Million in Participation Dividends

Dupaco Pays $2.6 Million in Participation Dividends

More than 50,000 participating Dupaco Community Credit Union members on Oct. 18 received their share of more than $2.6 million as part of the credit union’s 9-month Thank Use campaign. The timeframe to earn Thank Use was Jan. 1 through Sept. 30. The participating member payout coincided with International Credit Union Day on Thursday, Oct. 18.

Thank Use is a way to demonstrate the power of Dupaco’s member-owned, cooperative structure, according to Dupaco Chief Marketing Officer David Klavitter. The Thank Use campaign rewarded members in relation to each member’s active participation in the credit union. Those recognized services included loans, savings, checking, insurance, investments, credit card, and e-statements.

As a group, members also earned an additional dividend as a result of more than 83.4% of participating members maintaining or improving their credit scores. An active share draft checking account was required to unlock the payout.

The average dividend this year was $53. Dupaco has paid directly to member/owners nearly $9 million in Thank Use participation dividends since the program launched in 2016. The credit union is making plans for a 2019 Thank Use participation dividend for members.

Members can view their dividends by logging into Dupaco’s Shine Online Banking.

Dupaco continuously seeks to enhance value for its 111,000 member-owners, according to Klavitter. The cooperative achieves this in a variety of ways, including product, service and technology enhancements; branch convenience; staff expertise and service; higher savings rates; lower loan rates and fees, and more. Learn more about the campaign at Dupaco.com/ThankUse.

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