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Valley Credit Union gives back $550,000

Valley Credit Union is excited to announce that for the second year in a row, an Ownership Dividend has been shared with members. Valley CU is a not-for-profit, cooperative credit union, owned by the 5,263 members using its services. With no stockholders to pay, Valley reinvests its earnings right back to the members, in form of benefits such as fewer fees, better interest rates, and Ownership Dividends.
 

This dividend is a way to recognize the credit union’s valued members and to thank them for their contribution to the continued success of Valley. The $250,000 dividend payout was based on the member’s deposit and borrowing activity during 2020. In addition, a special “legacy” dividend was given to all members who have had a relationship with the credit union for at least 20 years.
 

The majority of the credit union’s members -- 78% -- received an ownership dividend and the average payout was $55.49. These funds were deposited into the member’s ownership account which currently earns 2.50%.
 

“As a credit union, we are focused on providing value to our members who are also our owners. We have a history of offering competitive rates, low fees and great service”, said Valley Credit Union President and CEO Pat Force. “In 2020, we were there to support our members who were struggling with emergency loans and deferred loan payments. We’re proud to again share with our members, especially during this challenging time.”
 

Valley Credit Union has been serving people who live and work in the areas surrounding Salem, Oregon since 1957.