Members have received more than $73 million in bonus dividends since 2001
[LAS VEGAS, Nev.] – January 27, 2023– As a financial institution that strives to help its members realize their financial goals and dreams, Clark County Credit Union (CCCU) is celebrating Bonus Dividend Day today with a $2.6 million dividend payout to its members. Though the Bonus Dividend began in 2001, this year marks the ninth year in a row that CCCU members have received the bonus dividend since the recession.
This year’s distribution of $2,625,755 brings CCCU’s Bonus Dividend historic grand total to $73,353,537, putting millions of dollars back into the Southern Nevada economy over the last 23 years. As a non-profit cooperative, credit union members share in excess earnings in the form of low rates, additional products and services and the annual Bonus Dividend.
The Bonus Dividend calculation has changed over the years to reflect the equitable treatment of both loan holders and depositors and it is given to both consumer and commercial members. The dividend payment is calculated based on the average annual daily balances and how long the account is open, for both deposits and loans of any type including auto loans, credit cards, new home construction loans or commercial loans.
“CCCU ended the year on a high note and our team is thrilled to be able to give back $2.6 million to the members,” said Matt Kershaw, President and CEO of CCCU. “We focus on providing great rates all year, and the Bonus Dividend is just another way that we give back to our owners, the 52,000 members of Clark County Credit Union.”
Members often choose to save or spend their dividend in creative ways. “Last year I used my dividend to help buy my granddaughter a brand-new car!” said longtime member, Crystal C. “This year we hope to use my dividend on paying for my granddaughter’s schooling!”
While the Bonus Dividend is based on average daily balances of the different types of accounts members hold with CCCU, many members received hundreds if not thousands of dollars. The highest single dividend paid was $11,936 to a commercial or business account, while the highest payout to an individual member was $7,807. The average amount distributed was $46.64 while our commercial account average was $295.09. The extra money can be used to add to savings, pay down a bill or even on a fun splurge, as many of our members have done over the years.
CCCU Member, Randy B. said, “We always use our dividend to buy something we normally wouldn’t splurge on, like an expensive dinner together or a trip to our favorite grocery store.”
For more information on Clark County Credit Union’s Bonus Dividend, please visit ccculv.org or visit the credit union’s social media pages at Instagram, Facebook or Twitter.
About Clark County Credit Union
Founded in 1951, CCCU is a not-for-profit financial institution serving over 52,000 members who are municipal employees (Clark County, City of Henderson, City of Las Vegas, and City of North Las Vegas), medical professionals, members of Nevada Public Radio (KNPR) and numerous select employer groups. CCCU has assets of $1.1 billion and six branches throughout Southern Nevada and has given back more than $73 million in Bonus Dividends since 2001. More information about CCCU can be found online at www.ccculv.org.