Membership-Patronage Dividend Payment

For the 23rd consecutive year, the WFCU Board of Directors has declared the annual dividend on Membership-Patronage Shares. This dividend will be paid on Tuesday September 3, 2013, to all members with Membership Shares at May 31, 2013. 

Members who have joined prior to May 1995 and have $85 in Membership Shares ($170 for joint members) will have $5 paid to their Patronage Shares ($10 for joint members). Members who joined after May 1995 will have their dividend paid to their Membership Shares until they attain the required $85 Membership Shares level ($170 for joint members).

The dividend payment is one component of the credit union's planned strategy to build our Regulatory Capital and to strengthen our financial position.  This dividend payment is counted as part of our Regulatory Capital which consists of Membership and Patronage Shares, Investment Shares and Members’ Equity.

Through this plan, by May 2013, WFCU has built $73.3 million in Regulatory Capital, providing a capital ratio of 7.1% and a risk weighted capital ratio of 12.3%, surpassing the required legislated levels of 4.0% and 8.0%, respectively.  This strong capital base ensures WFCU continues to expand and offer competitively priced products and services to meet all their members’ financial needs.

WFCU is extremely proud to have had another successful year and for our members to share in our success with this dividend.

 

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