Summit Credit Union has announced a $2.3 million patronage dividend, as a part of its Cash Boomerang program. More than 55,000 Summit members recently received announcements detailing the amount of their 2018 payout. The amount received per individual was determined by the financial success of Summit Credit Union, along with the member’s saving and borrowing activity between Oct. 1, 2017, and Sept. 30, 2018.
With this year’s total, Summit has paid out more than $9 million in payouts since the incentive program began five years ago. In 2017, the payout was $2.08 million.
“We had another successful year in 2018, largely due to the consumers who bank with us, and we’re proud to reward them this year through Cash Boomerang,” said Summit Credit Union CEO & President Kim Sponem.
With 36 branches in the greater Madison and Milwaukee areas, Summit is set to open a new 152,000-square-foot headquarters in Cottage Grove. For more information about Cash Boomerang, visit SummitCreditUnion.com/