Heartland Credit Union pays bonus dividend
Published March 13, 2017
Because of the success of Heartland Credit Union in 2016, members have received a Member Participation Bonus Dividend. This bonus totaled more than $220,000 and individual bonuses were based on the amount of dividends earned and/or interest paid by a member during 2016, in addition to $25 for a sold HCU mortgage.
Thanks to the loyalty and participation by many members, 2016 was a very successful year for HCU. When members support their credit union by using its products and services, HCU is able to prosper. When HCU prospers, the members benefit.
Since 2008, HCU has returned over $650,000 in bonus dividends directly to our members. This year’s bonus was posted to members’ accounts on March 13, 2017.
Why the bonus? HCU is a not-for-profit financial cooperative. In the purest sense, that means members pool their resources to gain a benefit for all. While HCU certainly has to make some profit to pay the bills and satisfy capital requirements of state and federal regulators who focus on safety and soundness, we do not have to make additional profit for a small group of stock holders. Instead, what could be additional profit is re-routed to members in various forms…lower loan rates, higher savings rates and low or no fees.