Wright-Patt Credit Union of Fairborn, Ohio is giving back $5million to its members on Jan. 4 in the form of a Special PatronageDividend, the $2 billion, 215,000-member CU announced.
|The $5 million dividend, a $1 million increase from the credit union's$4 million payout last year, brings its total dividend payoutamount to more than $16 million since 2008.
|Eligible members will receive anywhere from $15 for their use ofan active debit card, online banking or mobile banking andeStatements, to a several hundred dollar dividend, depending on their level of relationship withthe credit union. The CU said more than 210,000 of its members willbe awarded on Jan. 4.
|“Returning $5 million to members is unique in this industrybecause a for-profit institution would not likely give money backto the very customers who helped them make it,” said Doug Fecher,CEO for Wright-Patt CU. “We are so proud of our ability to pay aSpecial Patronage Dividend but doing so depends on a variety offactors, most important of which is that members are using theircredit union.
|“The more services used by members, the greater the revenueavailable to pay expenses and strengthen safety reserves. Anotherfactor is management's ability to efficiently operate the creditunion while meeting the member's needs.”
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Natasha Chilingerian
Natasha Chilingerian has been immersed in the credit union industry for over a decade. She first joined CU Times in 2011 as a freelance writer, and following a two-year hiatus from 2013-2015, during which time she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union), she re-joined the CU Times team full-time as managing editor. She was promoted to executive editor in 2019. In the earlier days of her career, Chilingerian focused on news and lifestyle journalism, serving as a writer and editor for numerous regional publications in Oregon, Louisiana, South Carolina and the San Francisco Bay Area. In addition, she holds experience in marketing copywriting for companies in the finance and technology space. At CU Times, she covers People and Community news, cybersecurity, fintech partnerships, marketing, workplace culture, leadership, DEI, branch strategies, digital banking and more. She currently works remotely and splits her time between Southern California and Portland, Ore.
