REDMOND, Wash. (1/16/13)--Qualstar CU, Redmond, Wash., is thanking members for their loyalty with a $2.5 million bonus dividend.
Individual bonus dividends range from five dollars to several thousand, with the average member receiving a bonus dividend of $72.
"We have extremely loyal members, and last year their loyalty helped us have our most profitable year ever," said Mark Nelson, CEO of the $327 million credit union. "We felt that with the exceptional earnings we saw as a result of that loyalty, the best way to thank them is to give back to those members who helped make that happen."
Members earned dividends based on their deposit and loan balances, as well as other services that help reduce expenses to the credit union including Home Banking and eStatements.
"This isn't about who has the most money on deposit, it's about thanking all of our members for their contribution to our success." said Tracey Elfstrom, vice president of member relations. "Whether they have a large Money Market balance, a mortgage loan, or a Visa Credit Card, it all matters, it's all important--and they all deserve to benefit as a result."