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$1,000,000 patronage dividend paid to members of Western Division Federal Credit Union


Mon, Nov 29th 2021 03:20 pm

A patronage dividend of over $1,000,000 was paid to the members of Western Division the week of Thanksgiving. Since 2003, Western Division members have received more than $10,000,000 in patronage dividends.

CEO/President Robert Harms said, “This year has been a special year for our employees and members. Even during these trying times, we were once again able to pay a patronage dividend to our members, and were also honored to be voted the Best Credit Union of the 716. What a better way to celebrate by rewarding our members for their business. The amount of a dividend ranged from $7.16 to $716, based on participation.”

All active members, in good standing, who paid interest or received dividends in a sufficient amount to warrant a patronage dividend received 55% of interest paid on loans; 100% of dividends received on savings; and 50% of dividends earned on certificates, as of Sept. 30, 2021. The patronage dividend was paid in addition to regular dividends.

“We were able to pay the patronage dividend once again because of our existing loyal members, as well as new members that joined and took advantage of our excellent loan and savings rates,” said Board Chair Ellen Christy said.

Founded in 1937, Western Division is one of Western New York’s largest community credit unions. For more information, call or text 716-632-9328 or visit www.westerndivision.org.

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