On December 31st Hamilton Community Credit Union once again paid a Participation Rebate to our members who either earned or paid interest throughout 2009. For over 20 years now, HCCU has been sharing its profits with members in the form of a Participation Rebate.
The following is a message from our CEO Malcolm Stoffman regarding the 2009 Participation Rebate:
We have just gone through the year end process and as expected the Participation Rebate fell within the approved range of 3-4% range. In fact, HCCU paid a participation rebate of 4% with the full amount going to the member’s savings account.
While this amount is less than we have paid over the past several years it is still a very healthy return in comparison to what most other Credit Unions (and all banks) pay, and shows our commitment to this valuable benefit of membership even in challenging economic times. The total amount returned to members as a dollar value is $133,303.74.
Thanks to the staff and directors of HCCU for making this year a success through what will certainly be regarded as one of the most difficult years our local, national and international economies have seen in a very long time.
Hope you all have great New Years and a happy and healthy 2010.
Malcolm
If you have any questions regarding the Participation Rebate please contact either of our branches.
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1 comment:
Keep up the terrific representation of membership. Wish I could say that all credit unions work so hard for our benefit and not to stuff their pockets. I've moved to other cities in the past 10 years and none could offer what HCCU offers. There were charges for every little thing. Thanks for the 36 years I've been with you.
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