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As a cooperative union, we are owned by our members. Member dividends are how we show appreciation for their loyalty and share our organization’s success.
Our member rewards offer each member the opportunity to share in our earnings. It's just one of the many upsides of supporting your local credit union.
Because earnings from deposits and loans are what make these dividends possible, the amount any member receives is based on the balance of the account over a particular period. The more business you do with us, the more you share in our earnings.
After satisfying requirements for reserves, the Board of Directors may set aside a portion of earnings for members who have borrowed and saved at the credit union. The amount a member received in 2023 is based on deposits balances with Lake View Credit Union.Member Rewards - Dividend Payout:
The amount of dividend any member receives is based on how they utilize the deposit services. The more business you do with us, the more you share in our earnings.
The amount a member received in 2023 is based off of deposit balances.
Members who save with Lake View Credit Union are allocated a percentage of the deposits they had on hand during the year. The allocation rate may vary from year to year as it depends on the amount of earnings achieved.
Dividends are earned based on deposits held at Lake View Credit Union throughout the calendar year.
All members in good standing are eligible to benefit from the program.
Dividend paid by Lake View Credit Union are taxable, and the Credit Union will issue a T5 for any amounts paid over $50.
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