For the 21st consecutive year the RevCU Board of Directors is pleased to announce Member Rewards. The Board declared this year’s patronage rebate at 2.585% based on the financial results of a very unusual fiscal year in 2021 which will see $200,000 disbursed to Members. Since 2001, $4,525,016.00 has been returned to Members through the program.
Member Rewards are a way RevCU distributes annual profit, based on interest earning and interest accruing accounts. Deposit Accounts which earn interest are paid a reward calculated by multiplying the interest earned in the year by the reward rate determined for the year. Similarly, when paying interest on a loan or mortgage the reward rate is multiplied by the interest paid to arrive at your rebate for the year! Rewards are cash paid into the Member’s Rewards account with which can be used for anything!
There are many advantages to banking at a Credit Union, and most of these keep money made in our community circulating here as part of our thriving economy. Our Members and community benefit from these advantages, you don’t see this happening with a bank. Being a Member means you are also an owner and Membership does have rewards! Watch for yours in your account in the morning of February 10, 2022.