Credit Union 24, the country's largest credit union-owned ATM and POS network, announced that it will disburse $1.1 million in patronage dividends to its shareholding credit unions during Q3 of this year.
"We are pleased that the board of directors declared this patronage dividend to further assist our shareholding credit unions' bottom line," said Jim Park, president and CEO of Credit Union 24. "The dividend is a reflection of the positive year that our network experienced last year, and illustrates our network's commitment to maximizing return for our shareholding credit unions."
The cooperative, credit union-owned network returns profits in the form of cash and equity certificates. More than $15 million has been disbursed to shareholding participants since the company was established in 1998.
In addition to receiving patronage dividends, shareholding credit unions also have a voice in the network's structure as well as on important EFT issues. "Credit Union 24 gives our credit union participants a collective voice in the EFT arena, providing that important influence in areas such as legislation."
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