Home » News » Steinbach Credit Union Paying Out $7.5M in Member Bonuses

Steinbach Credit Union Paying Out $7.5M in Member Bonuses

March 14, 2018 8:47 AM | News

Steinbach Credit Union

The interior of SCU’s main branch in Steinbach. (HANDOUT)

Members of Steinbach Credit Union are receiving their share of $7.5 million to be paid to them by this Friday.

Manitoba’s largest credit union announced the member bonuses Tuesday night at its annual general meeting.

The cash back bonus will be divided equally amongst deposit account holders and loan account holders, including all consumer, commercial, agricultural, charity and community accounts. RESP, AgriInvest and Lawyer Trust accounts aren’t eligible for the bonus.

“Our members are our owners, so it’s fitting they should share in our success as a cooperative,” said Reg Penner, chairman of the board. “We have enjoyed serving our members for more than 75 years and are delighted to share this Member Bonus with them.”

SCU has paid out $47 million in cash bonuses to its members since 2000.