As we kick of the new year we want to thank our members for being a part of our Credit Union community.
The Patronage dividend is Your Extra Slice for being an active Credit Union Member. It is a distribution that we pay to our members. This dividend is given based on proportion of profit made by MVFCU. This year there will be $80,000 of profit returned to our member-owners.
The dividend is paid to members with active accounts in good standing, and is based on several 2019 factors, including: interest paid on loans, dividends earned on deposit products, active use of debit cards and length of membership.
Look at your December statement. If you were paid a patronage dividend for your loyalty to MVFCU, you will see a deposit labeled 2019 MVFCU YES BONUS COOP PATRONGAGE DIV.