Members of Crosstown Civic Credit Union will receive their share of approximately $8 million in profits this year.
Peter Enns, the credit union’s CEO, made the announced Monday during their annual general meeting at the RBC Convention Centre.
“This year’s allocations, both in terms of percentage and dollar value, are the highest in our history of this program and may well be the largest ever paid out by a credit union in Manitoba,” Enns said.
Members are eligible for benefits under this program based on their loans and savings at the credit union. Equity plan payouts are equivalent to between .20% and .40% in additional interest savings, for the average Member.
Crosstown Civic maintains a network of nine branches and a commercial lending division in Winnipeg.