As a giant “thank you” to our members, Ascend is returning $5 million in bonus dividends and loan interest refunds.
Over the past 14 years, our volunteer, unpaid Board of Directors has voted to return more than $77.8 million to members.
“Coupled with a desire to be the most loved financial institution in our market, the member return really makes Ascend stand out from our peers,” Ascend President and CEO Caren Gabriel said. “As long-time members know, the member return is based on a member’s relationship with the credit union, and we believe members keep the member return in mind when choosing where to have their savings, mortgage, vehicle, and credit cards.”
While the member return is never guaranteed, it is something Ascend’s Board strives for annually.
Each year, Ascend analyzes its financial performance to identify how the return will be calculated and what amount will be given. Generally, the more loans someone has with the credit union, the greater his loan interest refund, and the more savings he has, the greater his bonus dividend. In order for a loan to receive an interest refund, it must not be delinquent.
As a bonus this year, Ascend is rewarding members with active checking accounts. “Active” is defined as eight or more transactions per month (deposits and withdrawals) in October and November. Active Preferred checking accounts will receive an additional $25, and active Legacy checking accounts, active business accounts and active Rebuild checking accounts will receive an additional $10.
We look forward to serving you in 2019!