Access Credit Union will be doling out another record-breaking payout to members this year.
According to the Board of Directors, $13.5 million will be returned through its member rewards profit-sharing program. The payout follows a previous record of $13.1 million shared out in 2022.
In a news release, the Board noted, Access' increased scale thanks to mergers with Noventis and Sunova credit unions in 2022, and its ongoing success, contributed to the new record.
“We are proud to be in a position where we are able to pay Member Rewards as a way of saying thank you to our loyal members,” shared Kevin Beresford, Board Chair. “This year marks the biggest payout in our history and fulfills our core commitment to strengthen our profit-sharing program.”
“We thank all of our members for continuing to place their trust in Access Credit Union,” said Larry Davey, President and CEO. “As we continue to grow, change, and evolve, we are very grateful for each and every one of our members and believe they should share in our profits.”
The amount a member receives is based on interest earned on non-registered deposits and interest paid on lending products.