Dupaco Pays $2.6 Million in Participation Dividends
DUBUQUE, Iowa—More than 50,000 participating Dupaco Community Credit Union members on Oct. 18 received their share of more than $2.6 million as part of the credit union’s 9-month Thank Use campaign.
The timeframe to earn Thank Use was Jan. 1 through Sept. 30. The participating member payout coincided with International Credit Union Day on Thursday, Oct. 18.
Thank Use is a way to demonstrate the power of Dupaco’s member-owned, cooperative structure, according to Dupaco Chief Marketing Officer David Klavitter.
“Dupaco is more than local. It’s a financial cooperative, owned by people in our community,” said Dupaco Chief Marketing Officer David Klavitter. “The more members use their credit union, the more members, the community, and Dupaco benefit.”
The Thank Use campaign rewarded members in relation to each member’s active participation in the credit union. Those recognized services included loans, savings, checking, insurance, investments, credit card and e-statements.
As a group, members also earned an additional dividend as a result of more than 83.4% of participating members maintaining or improving their credit scores.
“As a cooperative, our members work together for the betterment of themselves and the cooperative,” said Klavitter. “Education is rooted in our mission and when we achieve tangible results, we share that success with our member/owners.”
An active share draft checking account was required to unlock the payout.
The average dividend this year was $53. Dupaco has paid directly to member/owners nearly $9 million in Thank Use participation dividends since the program launched in 2016. The credit union is making plans for a 2019 Thank Use participation dividend for members.
Members can view their dividends by logging into Dupaco’s Shine Online Banking.
Dupaco continuously seeks to enhance value for its 111,000 member-owners, according to Klavitter. The cooperative achieves this in a variety of ways, including product, service and technology enhancements; branch convenience; staff expertise and service; higher savings rates; lower loan rates and fees, and more.
Learn more about the campaign at dupaco.com/ThankUse.
ABOUT DUPACO COMMUNITY CREDIT UNION:
Dupaco Community Credit Union is a not-for-profit, member-owned financial cooperative. It is dedicated to the financial sustainability of its members, and specializes in customized financial counseling, money advice and education. It offers savings, loans, investments, insurance and wealth management products for individuals and businesses. Dupaco serves residents in 108 counties throughout Iowa, northwest Illinois and southwest Wisconsin. Chartered in 1948, membership totals more than 111,000 with assets exceeding $1.6 billion. Visit Dupaco at www.dupaco.com.
# # #