BROOKVILLE, Pa. – There are only a handful of credit unions in Pennsylvania paying a bonus dividend to their members, and Clarion Federal Credit Union happens to be one of them.
The Credit Union is member-owned so in its continuous effort to work for its members, the Board of Directors approved a Special Bonus Dividend for the fifth year in a row. The Board authorized an additional $350,000 in dividends to be given to members based on the relationship they had with the Credit Union in 2020. The Credit Union continues to exceed member expectations with almost 75% of membership earning a portion of the dividend. Over the course of five years, the Credit Union has given members a total of $1.5 Million.
The structure of the Special Bonus Dividend is based on the following factors:
- Active Debit Card – $10.00
- Active Direct Deposit – $10.00
- Multiple Account Relationship – $5.00
- Home Banking User – $5.00
- E-statement User – $5.00
- Bonus Dividend for Deposit Holders – 8.00% multiplied by the interest earned year-to-date
- Bonus Dividend for Borrowers –3.27% multiplied by the interest paid year-to-date (excluding credit cards)
Board President Deborah Boyles stated, “We are the only local financial institution that is truly working for our members.”
She continued, “It is our hope that the Credit Union can continue to offer the Bonus Dividend in the future, and we encourage people in the local area to take advantage of the Credit Union’s services.”
Clarion Federal Credit Union, as measured by Callahan & Associates, has been ranked #1 for 3 ½ years in a row among credit unions in the state of Pennsylvania versus our peers with assets of $100M – $250M when measuring return to members. Clarion Federal Credit Union is also ranked in the top 2% in the nation among our peers of 726 credit unions.
You are eligible to join the Clarion Federal Credit Union if you live, work (or regularly conduct business in), worship, attend school, or are a business in Clarion, Jefferson, Forest, or Venango counties in Pennsylvania.
The Credit Union offers a wide variety of financial products including savings, checking accounts, debit cards, IRA’s, Term Certificates, Christmas and Vacation Club accounts. It also offer low-interest rate consumer loans, home equity products, and commercial loans.
For more information, call 814-226-5032 or visit us in Clarion, Brookville, or Cranberry.
Federally insured by NCUA.
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