Nearly 10,000 members of MEMBERS1st Community Credit Union will receive between $5-$500 in December, as their portion of a bonus dividend (also known as patronage dividend) distribution taking place December 15. The decision to distribute a bonus dividend totaling more than $175,000 was approved by the credit union’s Board of Directors in November.
“2024 was one of the most successful years in the credit union’s history financially, and we are proud to share that success with the member-owners,” said MEMBERS1st CEO Nick Tonelli. “This is just one of the many ways that credit union membership has its advantages.”
The bonus dividend will be deposited to qualifying member-owners’ basic share/savings accounts and the amount received will be based on an average of their deposits and/or balance of loans at the credit union from January 1, 2024, through November 30, 2024. The larger the average sum of deposits and/or the larger the total loan balance the larger the bonus dividend deposit, up to $500.
“As a not-for-profit financial cooperative, we believe that when the credit union does well, our members should do well. As we enter the new year, we want to extend a heartfelt thank you to our members for their loyalty and continuing to choose MEMBERS1st Community Credit Union as their trusted financial institution,” said Tonelli.
Pictured with a check representing more than $175,000 going to members of MEMBERS1st Community Credit Union are (from left) MEMBERS1st Board Chair Kelley Molitor, Associate Board Member David Draper, Board Member Jon Núñez, CEO Nick Tonelli, CFO Tom Blanford, and Board Members Tami Lichtenberg, Craig Markley, Dirk Dahms and Jack Evans. Not pictured: Board Members John Dostart, Ronda Kelley and Scott Smith.
MEMBERS1st Community Credit Union is a member-owned, cooperative financial institution with more than $250 million in total assets and provides financial services to 18,000 Iowans. The credit union provides services to members at branches in Ames, Boone, Eldora, Iowa Falls, Marshalltown and Traer or via electronic means. Membership is open to people who live, work, worship, or attend school in Marshall, Story, Boone, Dallas, Franklin, Greene, Grundy, Hamilton, Hardin, Jasper, Polk, Poweshiek, Tama, and Webster Counties. Membership is also available to family members of current members. Learn more at www.members1st.com.
