Members of the $780 million Goldenwest Credit Union of Ogden, Utah will receive a 4% APY bonus dividend on shares for the month of December, the CU announced.
The bonus dividend payout will total more than $575,000.
The 83,000-member credit union will pay a 4.2% APY dividend – the CU’s monthly 0.2% APY dividend plus its 4% APY bonus dividend – on primary share accounts, secondary share accounts, Christmas Club share accounts and IRA share accounts on Dec. 31, 2011.
The 4% APY bonus dividend is based on the average daily balance of shares during 2011, the CU said.
This is the eighth consecutive year for Goldenwest CU to award its membership with a bonus dividend payout. The CU has paid a total of $4.5 million in bonus dividends since 2004.
“Goldenwest continues to remain strong despite the economic downturn,” Goldenwest CU President/CEO Shelley Clarke said. “We believe the tradition of awarding a bonus dividend is an important part of our success. As we take care of our members, they take care of us.”