Desert Financial gives back $20M to members
Arizona’s largest credit union awarded $90M to its members in the past seven years
PHOENIX, AZ (January 22, 2024) — Desert Financial Credit Union will share $20 million with its members as part of its annual Member Giveback Bonus, a 25% increase from its 2023 bonus.
The not-for-profit credit union, owned by its members, is on a mission to improve every member’s financial well-being through education, competitive loan rates, free checking and membership rewards.
“Our annual giveback bonus is what differentiates Desert Financial from a typical bank,” said Desert Financial President and CEO Jeff Meshey. “We are not beholden to stockholders, but to each of our members and their financial success.”
This year’s Member Giveback Bonus brings the total distributed bonuses to $90 million over the past seven years. In 2024, members who qualify will receive an average giveback bonus of $114.
In addition to the Member Giveback Bonus, Desert Financial and its employees invested in the community in many ways in 2023, including volunteering, scholarships, grants for local non-profits and even holiday food drives. Here are a few examples:
- Team members volunteered a record-breaking 18,492 hours.
- Desert Financial gave $4.5 million to the community through corporate, foundation and employee giving, impacting 125 non-profit organizations, including $155,000 given to Arizona food banks for their holiday turkey drives.
- Desert Financial Foundation provided 261 scholarships for high school seniors and adult learners returning to school to continue their education.
- Team members provided 13,390 Random Acts of Kindness, valued at $359,727.
- 15,505 individuals impacted by financial wellness content.
To find out more about community giving at Desert Financial and the Member Giveback Bonus visit www.desertfinancial.com/bonus.
About Desert Financial Credit Union
Celebrating 85 years in Arizona, Desert Financial is the state's most trusted local credit union with over $8 billion in assets, 400,000+ members and 48 branches. Membership eligibility is open across Arizona with contactless solutions making it easy to click, call or come in. As a not-for-profit cooperative, Desert Financial takes pride in sharing success. In 2023, members received $16 million in dividends via the Member Giveback Bonus, and the credit union became the official retail banking partner of Arizona State University®. Federally insured by NCUA. Learn more at desertfinancial.com.
