The payment of Patronage Rebates and Dividends is a form of profit-sharing unique to co-operatives like credit unions. The more business you do with our credit union, the more you see returned!
It’s a great time to be a member of a VantageOne Credit Union! We are pleased to announce the payment of PAYBACK Patronage Rebates to our members for the 2022 fiscal year. PAYBACK Patronage Rebates were calculated as follows:
1. Rebate on Deposit Interest of 10%
Example: If a member earned a total of $100 in interest on all their deposits with the Credit Union in 2022 they would receive a $10 patronage rebate.
2. Rebate on Service Charges of 30%
Example: If a member has a $20 per month package account and incurred a total of $240 in month-end service charges in 2022 they would receive a $72 patronage rebate.
3. Member Dividend of 7%
Paid to members in March 2023.
We are pleased to announce the payment of PAYBACK Patronage Rebates and dividends to our members for the 2022 fiscal year that total $423,720.00!
Next week starting on July 10th, our branches are hosting a celebration in honour of this historic pay-out and our 79th anniversary! Drop by to visit our staff as we celebrate one of the exceptional benefits of membership in our credit union…profit-sharing!
It’s never been a better time to be a member of a VantageOne Credit Union. CONGRATULATIONS!
We keep your money safe. Deposits are 100% insured by the Credit Union Deposit Insurance Corporation of British Columbia (CUDIC). Learn more
Questions about your PAYBACK Patronage Rebates or Dividends? Contact us