WHITEFISH, Mont. – Jan. 2, 2020 – Whitefish Credit Union announced a 1.50% dividend for the six-month period ending on December 31, 2019. This dividend is well above the average national savings account rate of 0.09% and represents the Credit Union delivering on its commitment in providing substantial value to its members. Whitefish Credit Union paid over $20 million in dividends to its more than 55,000 member-owners in 2019.
“We are excited to provide our members with a dividend rate that is more than 16 times higher than the average national savings rate, at the same time that many other institutions have lowered their rate,” said James Kenyon, President and Chief Executive Officer of Whitefish Credit Union. “Despite multiple rate reductions by the Federal Reserve over the past six months, the fact that our dividend remains exceptionally high is a direct reflection of our mission to return value to our members.”
Whitefish Credit Union does not require its members to maintain a minimum balance to receive dividends on their share accounts. Dividends are based on the average daily balance of an active share account, and they are paid semiannually.
About Whitefish Credit Union
Whitefish Credit Union is a not-for-profit financial institution and the largest credit union in Montana with over 55,000 members and more than $1.5 billion in assets. As a member-centric financial cooperative founded in 1934, Whitefish Credit Union has been a trusted financial partner to its consumer and commercial customers for generations. The credit union offers a comprehensive suite of financial products and services including online checking and savings accounts, home equity and mortgage-lending services, business and equipment loans, auto and vehicle financing, and a low fixed-rate credit card. With an unwavering community focus, Whitefish Credit Union supports countless organizations throughout Northwest Montana every year. Credit union membership is open to residents in Northwest Montana.