Whitefish Credit Union announces record-high dividend payment
WHITEFISH, MT (January 22, 2024) — Whitefish Credit Union, Montana’s largest credit union, proudly announces a landmark achievement in its 90-year history. On December 31, 2023, the credit union declared a share savings dividend rate of 1.90%, culminating in a year in which it disbursed over $38 million in dividends to its members. This significant dividend distribution, a record in the credit union’s history, was bolstered by the introduction of share certificates for the first time – a pivotal development in the institution’s legacy.
The total dividends paid in 2023, exceeding $38 million, represent the highest amount ever returned to members in a single year, reaffirming our mission as the “Best Place To Save, Best Place To Borrow.”
“I am immensely proud to announce this historic dividend to our members,” said James Kenyon, President and CEO of Whitefish Credit Union. “This milestone, the largest in our 90-year history, is more than just a number – it’s a testament to our unwavering commitment to our members and the community we serve. At Whitefish Credit Union, we believe our success is directly linked to the financial well-being of our members. By returning $38 million in dividends in 2023, we are expressing our gratitude to our members for their trust and loyalty. This action goes beyond a mere financial transaction; it’s an investment into the people and businesses of Western Montana. We’re not just a credit union; we’re a community, growing and thriving together.”
The record-breaking dividend distribution was bolstered by the enthusiastic adoption of the newly launched share certificates, similar to CDs offered at banks. Among these is a standout 5.00% APY 4- month share certificate. These products are designed to provide members with advantageous and secure investment options with guaranteed returns over 4, 8, or 15-month terms, backed by federal insurance akin to traditional savings accounts. This initiative is part of Whitefish Credit Union’s continuous effort to provide its members with competitive and beneficial financial solutions.
The impact of Whitefish Credit Union’s dividend distribution extends beyond its members, significantly benefiting the communities in Western Montana. By reinvesting funds into its member base, the not- for-profit credit union plays a critical role in stimulating the local economy and bolstering the region’s financial health.
About Whitefish Credit Union
Whitefish Credit Union is a not-for-profit financial institution and the largest credit union in Montana with nearly 60,000 members and $2 billion in assets. As a member-centric financial cooperative founded in 1934, Whitefish Credit Union has been a trusted financial partner to its consumer and commercial customers for generations. The credit union offers a comprehensive suite of financial products and services including online checking and savings accounts, home equity and mortgage-lending services, business, and equipment loans, auto and vehicle financing, and a low fixed-rate credit card. With an unwavering community focus, Whitefish Credit Union supports countless organizations throughout Northwest Montana every year. Credit union membership is open to residents in Northwest Montana. For more information about Whitefish Credit Union, visit www.whitefishcu.com.
