Member Participation Bonus Dividend
Did you notice the 'bonus' deposit to your membership share account on 1-31-11?
By now you may have noticed the “bonus” deposit to your membership share account. If you received one, you should see an amount posted on January 31st with the description “Member Participation Bonus Dividend". This bonus was based on the amount of dividends you earned and/or interest you paid during 2010. Interest paid on secondary market mortgage loans was excluded because even though HCU is servicing the loan, we do not receive the interest.
Since the great recession began in 2008, Hutchinson Credit Union has paid out approximately $250,000 in bonus dividends to members. HCU has experienced record growth and performance, and giving back to members is the natural thing to do. While other financial institutions reduced service and raised fees, your credit union did the opposite, delivering even better service, while keeping fees to a minimum.
Do we have a secret? Not really. During the go-go years preceding the financial crisis, the greed factor didn't come into play at your credit union. We made decisions based on what was best for members, not just on what made the most money. In the long run that has made all the difference, with fewer bad loans, more efficient operations and more successful members who trust and believe in their credit union.
It's simple really; it's the power of local people, coming together for the betterment of everyone. That's what credit unions were founded on and that’s what the volunteer leaders that you elect believe in.
Bottom line, your credit union is truly a cooperative organization that is more about people than profit and your volunteer Board of Directors are doing an excellent job of balancing that delicate equation. On behalf of the Board of Directors, as listed below, thanks again for your past and continuing support of HCU.