Rebates & Dividends


Unlike other share issuing corporations, Reddy Kilowatt Credit Union returns any surplus earnings to all shareholders on an annual basis, after we have retained earnings for future growth. Since inception in 1956, we have returned over $6,000,000 to our members. The bottom line is the more business you put with Reddy Kilowatt Credit Union, the greater your share of the profits.

This surplus is returned to members in several ways based on the business they have with Reddy Kilowatt Credit Union. Members are paid a dividend on their equity share as well as additional returns for both savers and borrowers.

Based on the 2020 financial results, the Board of Directors recommended a rebate to members of $135,000. This represents, approximately, half of the Earnings Before Tax and is comparative in approach to that of prior years. A motion to approve the recommended rebate was brought forward to and approved by the membership at the 65th Annual General Meeting.

How many banks share their profits with their customers? We’re proud to say we're not a bank. We’re a credit union. And paying you first is our top priority.

 

Want to maximize your annual rebate? Contact us to get started and discuss your options.

 

 

 

 

 

 

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