Wright-Patt Credit Union distributes $8 million, easing economic impact of COVID-19
BEAVERCREEK, OH (January 8, 2021) — Tuesday, January 5th, qualifying members of Wright-Patt Credit Union (WPCU) received their share of an $8 million Special Patronage Dividend distribution as an automatic deposit into their TrueSaver® savings accounts.
“In these difficult times, every penny counts, and we are proud to continue helping our members every way that we can,” said Doug Fecher, President and CEO of WPCU.
Throughout the COVID-19 pandemic, WPCU has worked to relieve the economic impact on its members, helping them build resiliency for the future. Since March 2020, WPCU has provided over $32.3 million in loan deferments and over $14.6 million in Skip-a-Pays. WPCU also supported members through the onset of the pandemic by temporarily waiving late fees and overdraft fees from March 19th through September 1st.
“Because WPCU has focused our resources on helping members weather the financial challenges of COVID-19, this year’s return is lower. But despite the pandemic, WPCU remains resilient and stable, and we’re still able to continue supporting our members,”Fecher explained.
From 2008 to present, WPCU has given back more than $83 million to members in Special Patronage Dividends. Last year, WPCU returned their largest dividend to date, over $10 million to members.
“The Special Patronage Dividend is never guaranteed,” explained Tracy Szarzi-Fors, Vice President of Marketing and Business Development. “Our members make this possible and the more our members take advantage of our services the more everyone benefits.”
Eligible members could have received up to $19.00 just for having an active debit card and taking advantage of mobile and online banking. Some members may have received hundreds of dollars based on their extended relationships with the credit union.
“The more a member has used WPCU’s services throughout the year, the more they will get back,” Szarzi-Fors said. “The Special Patronage Dividend is more about being an active member of the credit union instead of just deposit and loan balances or how long a person has been a member. The more relationships you have with the credit union, the more your patronage dividend will be.”
The Special Patronage Dividend automatically deposited into members’ TrueSaver® savings accounts on January 5, 2020. Eligible members can check their share of the Special Patronage Dividend by logging into mobile and online banking.
To learn more about WPCU’s Special Patronage Dividend, please visit www.wpcu.coop/PD2020. For media inquiries, please contact Tracy Szarzi-Fors at firstname.lastname@example.org.
About Wright-Patt Credit Union
Established in 1932, Wright‐Patt Credit Union is a member‐owned, not‐for‐profit financial cooperative proudly serving Central and Southwest Ohio with almost 500,000 members and $8.0 billion in assets. As a cooperative, Wright‐Patt Credit Union joins members together, pooling financial resources to meet the needs of all. The pooled resources provide the capital to run a strong and efficient operation. Wright‐Patt Credit Union is headquartered in Beavercreek, Ohio, and has convenient Member Centers throughout Central and Southwest Ohio. Wright‐Patt Credit Union's mission is to help people through life by allowing members to achieve a greater degree of economic independence. Visit Wright‐Patt Credit Union's website at www.wpcu.coop for more information.