Patronage Payout Tidbits
Date Posted: Jun 27, 2019

This Year's Patronage Payout Tidbits!

The amount of patronage that a member will receive is based on the interest paid on loans and the interest paid on savings and term deposits during 2018. 

  • Patronage allocation was paid 100% in cash this year - none retained to the member equity accounts. 
  • Once a member reaches the age of 65, 100% of their equity account balance is also paid out to the member. 
  • Registered investments do/did not qualify. 
  • Members will receive an annual statement at the end of December.
       
                                            *** Members Share in the Profits! ***
Great example:
On a $250,000 mortgage, an RCU member would have received $3,700 in patronage in the past 5 years!!!
Now that's money in your pocket! :) 

 

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