Credit union to distribute $600,000 dividend

Members of Lincoln County Credit Union can look forward to a substantial dividend payment.

On Sept. 29 at the annual membership meeting, Lincoln County Credit Union announced a $600,000 patronage dividend. The dividend is a distribution that a co-operative like a credit union pays to its members based on the proportion of profit made by the business.

The funds will be deposited directly into members’ accounts.

“It is wonderful to be able to be a part of an organization that strives to live out the mission of people-helping-people. This didn’t just happen overnight,” said Lindsay Beaty, president at Lincoln County Credit Union. “It is because of all the previous years of financial planning that positioned the credit union with the financial capacity to distribute $600,000 to the membership this year. The planning for the patronage dividend started over a year ago.”

One member commented on how the dividend would help her.

“This couldn’t have come at a better time. I’m going to pay forward a portion of the patronage dividend to charities that share my passion.”

Another member will use her payment to visit her father who is having heart problems.

The credit union’s first patronage dividend came in 1997 at a total of $100,000.