CommunityAmerica returns $7 million to members
2016 marks 20th anniversary of profit payout dividend
LENEXA, KS (January 20, 2016) — Kansas City-based CommunityAmerica Credit Union formally returned $7 million in profit to members today through its Profit Payout, with an average of nearly $90 to every qualifying CommunityAmerica household.
This is the fourth straight year the credit union has returned at least $5 million, and the 20th consecutive year overall that it has issued a dividend. As a not-for-profit, CommunityAmerica Credit Union returns profit to members instead of investors in the form of better rates, lower fees, its Profit Payout and more. Individual payouts are based on use of the credit union’s products and services and associated account balances.
“The Profit Payout is such a differentiator for CommunityAmerica, and in recent years, it’s gone up nearly 40 percent annually. This is just one key way we help contribute to financial-peace-of-mind for this community. The growth of Profit Payout is the result of individuals and families discovering us and doing more business with us,” said Lisa Ginter, Chief Executive Officer of CommunityAmerica. “We are fast-approaching our 200 thousand member milestone, which is evidence that more and more of our community is embracing all the benefits that come with the credit union model that puts people first.”
Similar to banks, credit unions offer a full suite of products including mortgages, loans, savings, checking, credit cards, investment advice and more. However, credit unions are not-for-profit, member-owned and democratically-run financial cooperatives. Kansas Citians are eligible for CommunityAmerica membership simply by living or working in one of ten counties of the Kansas City area. Its Profit Payout is the most popular representation of CommunityAmerica’s mantra, Profit to the People®, because it is a direct return of dollars to those who bank with the credit union.
Individuals can explore what they could receive in Profit Payout based on their potential relationship with CommunityAmerica using the credit union’sProfit Payout Calculator at www.ProfitPayout.com.
About CommunityAmerica Credit Union
CommunityAmerica Credit Union is a full-service financial institution with more than 260,000 member-owners nationwide and more than $4 billion in assets, ranking it among the nation’s 100 largest credit unions. Based on deposits, CommunityAmerica is among the top 10 Kansas City-based financial institutions and the #1 ‘Best Place to Work’ in Kansas City, named by the Kansas City Business Journal in 2020. There are more than 30 CommunityAmerica branches in the greater Kansas City metro area, and one in St. Louis.
CommunityAmerica serves individuals and businesses, providing a full suite of financial products and services ranging from checking and savings to a variety of loan products to commercial banking. They also offer wealth management, retirement planning, private banking and insurance. CommunityAmerica is among the top mortgage providers in Kansas City based on loan volume. Its commitment to state-of-the-art technology enables a seamless banking experience for members, whether banking in branches or remotely. As a not-for-profit financial institution, CommunityAmerica offers highly competitive rates on deposits, loans and fees with fewer, lower or none at all. Other convenient products and services include Sunday hours, a network of more than 30,000 ATMs, 24-hour online banking and a top-rated mobile banking app. Want to become a member? You simply need to live in the Kansas City metropolitan area or have family members who do. For more information, visit www.communityamerica.com.