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.
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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