WHAT IS PATRONAGE?

Patronage is an investment you have in Radius Credit Union.  Each year our surplus is shared with our members.  Patronage calculation is based on interest you’ve paid to us, as well as interest we’ve paid to you.

Patronage is our way of thanking you for doing business with us.  Over the past thirteen years patronage payments to Radius Credit Union members have exceeded 3 million.

Radius Credit Union is a co-operative which provides full financial services and is guided, owned and controlled by the people who use our services.  One of the benefits of supporting Radius Credit Union is surplus profits are given back to the members in the form of Patronage Dividend.  Patronage is paid out in the first quarter of every year.  In 2007 Patronage was over $400,000.00.

HOW PATRONAGE WORKS?

The Board of Directors authorizes annual allocations.  Half of the allocation is paid in cash to the member, and the other half is retained in the members name in their equity account.  The more business you do at Radius Credit Union the higher your patronage amount will be.  The allocation you will receive, changes year to year.

The following are some examples to illustrate a few situations: