Many credit unions make annual plans to issue patronage dividends, but few follow through with it, according to a new survey by research and consulting firm Callahan & Associates.
The survey of 466 credit union CEOs and CFOs found that about 40% of credit unions make plans annually to issue patronage dividends if they meet certain thresholds, but only one in 10 actually pay out a dividend.
The results highlight an ongoing controversy in the industry over the value of patronage dividends.
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