Erie Federal Credit Union Giving $600,000 to Members
The Erie Federal Credit Union is distributing a total of $600,000 to its account holders as part of an initiative to share its success with members, it announced Tuesday.
A portion of the money will be paid to eligible members before Jan. 31, 2019.
The bonus will depend on the each individual's accounts and how much each member used Erie FCU for their financial needs in the past year.
Active members as of Dec. 31 will be eligible for the bonus.
“2018 was another extremely successful year for Erie Federal Credit Union and the Patronage Bonus reflects our dedication to sharing that success with our members while contributing to the communities we serve,” said Brian Waugaman, CEO of Erie FCU, in a news release. “We truly want to thank our members for doing business with us, both borrowers and savers – it’s really that simple, and just the right thing to do. Sharing with our members is one of the many ways we are different from a bank.”
This is the second year for the Patronage Bonus, which has grown since the first year. Erie FCU paid nearly $550,000 to 51,521 members last year.