We’re happy to say that we returned $1,000,000 to our members on January 26, 2018! The average dividend payout was $31. Among our most engaged members (those with loans, mortgages and savings) the average was $125.
What is the Owner Participation Dividend?
The Owner Participation Dividend represents the 2017 profits that remained after we paid operating expenses and set aside the appropriate amount for reserves. Because it is based on financial performance each year, it isn’t guaranteed. We have paid the dividend five times in the past seven years. (Pretty good odds, right?)
Watch this short video to learn more.
What determines the individual dividend?
Members in good standing (active account, current on loans, no bankruptcies, etc.) were eligible for a dividend. The individual dividend factored in the following:
- 5.75% of the total interest paid in 2017 for personal, home equity and auto loans
- 29% of the total dividends paid on all savings in 2017
- $40 for a first mortgage
Set yourself up for a dividend (or even bigger one) next time by bringing all of your loans and deposits to Andigo. The more engaged you are as a member, the greater the reward!
And, if you’re feeling really jazzed about Andigo, share the love with your friends and family!