Erie FCU announces Special Patronage Bonus for third consecutive year!
Credit Union to give back a total of $645,000 to members in January 2020
ERIE, PA — Erie Federal Credit Union is proud to announce that it will pay a special patronage bonus to its membership for the third consecutive year.
This years’ Patronage Bonus of $645,000 is larger than the past two years and will be paid to eligible members later this month. Over the past three years, Erie FCU has paid out nearly $1.8 million via their patronage bonus program.
The Patronage Bonus was developed in order to distribute an equitable bonus back to members based on their individual account relationship and continued member loyalty over the past calendar year. Any active member in good standing on December 31, 2019 will be eligible to receive a share of the declared Patronage Bonus.
“As a credit union, we are very pleased to be able to return a portion of our earnings to our member-owners. This truly is what sets us apart from many for-profit financial institutions”, said Brian Waugaman, Erie FCU CEO. “2019 was another extremely successful year for us thanks to the many members who choose to take advantage of the products and services we offer”.
Members can discover their share of the Patronage Bonus, which will be direct deposited into members primary savings accounts, by logging into their account through Online Banking or checking their monthly statement.
Members who use Erie FCU as their primary source for all of their financial needs received the greatest benefits from the Patronage Bonus.