We shared our success with our member-owners by returning $1,000,000! The more active a member was with us (think deposits, mortgages and loans), the larger their share of the dividend — which was deposited into savings accounts on January 25, 2019.
Dividends were calculated based on the following:
- A percentage of monthly average balance for all deposit accounts in 2018
- A percentage of interest paid on loans in 2018 (excluding mortgages and Visa)
- $40 per first mortgage
Since we are a member-owned, not-for-profit financial institution, returning earnings back to members (after ensuring our appropriate reserves) is just another way we do what’s right for you. And a perk you won’t find at banks.
P.S. If you’re feeling jazzed about Andigo, share the love with your family and friends! We’ve got something for both of you when they join. Click here.