Owner Participation Dividend Q&As

We are sharing our success with you! We’re returning $1,000,000 to our member-owners (that’s you) – a perk you won’t find at traditional banks.

The more active you are with us (level of deposits, loans, etc.), the larger your share of the dividend – which will be deposited into your account in January 2019. Look for it in a couple of weeks!

We couldn’t do it without you! Thanks a million (literally).

For more information, please review the Q&A below.

What is the Andigo Owner Participation Dividend?

The Andigo Owner Participation Dividend is a special dividend designed to return earnings to our member-owners, that’s you . The Owner Participation Dividend is never guaranteed. Talk about a sweet surprise. We pay out the dividend based on how well we perform against our yearly financial and operations goals as well as your participation with us throughout the year.

Since we are a member-owned, not-for-profit financial institution, returning earnings back to members (after ensuring the appropriate reserves) is just another way we do what’s right for you. And a perk you won’t find at any traditional banks.

How large is the Andigo Owner Participation Dividend?

We will be sharing a one million dollar Owner Participation Dividend for 2017 with eligible members in January 2018.

What is “participation” anyway?

The individual dividends will be based on the degree you use Andigo for your banking needs – think mortgages, the dividends earned on deposits, and the interest you paid on auto, home equity and personal loans. In short – the more you have ‘participated’ – the more you can receive.

How do I qualify to receive my share of the Owner Participation Dividend?

Simple, just be a member in good standing.

What does it mean to be a “member in good standing”?

You are a member in good standing if you:

  • have an open/non-dormant account
  • are current on any of our loans
  • have no charge-offs on your credit card
  • are not overdrawn on your checking account beyond the acceptable threshold

Is the Andigo Owner Participation Dividend paid every year?

The Owner Participation Dividend is never guaranteed. It is a direct result of your participation throughout the year and how well we perform against our yearly financial and operational goals.

When will the Andigo Owner Participation Dividend be paid?

As long as you are a member in good standing and are actively participating with us, we plan on directly depositing your share of the Owner Participation Dividend into your savings accounts in January 2018.

Where will the Dividend payout be posted – how will I know when it is paid?

You will see your share of the dividend in your savings account. You'll also see this deposit in online/mobile banking as well as your January statement.

Is the Andigo Owner Participation Dividend taxable?

Yes. It will be included in your 1099-INT tax form that you will use in 2019 when filing for your 2018 taxes.

What is included in how Andigo determines my share of the Owner Participation Dividend?

We will be paying out an amount based on:

  • The dividends earned from your savings accounts
  • The interest paid on our auto, home equity and personal loans
  • If you have a mortgage with us
  • How can I increase my share of the Andigo Owner Participation Dividend in the future?

    The more you “participate” with us – the larger your potential Owner Participation Dividend will be.

    By increasing your deposits with us, having your loans with us, etc. – the more you are participating in the growth and success of Andigo. Similarly, by encouraging family and friends to check us out, you are contributing in the growth and success of Andigo.