BRANDON, MB – At the Annual General Meeting held April 17, Fusion Credit Union announced a patronage allocation of $525,000 to members, plus $784,000 in cash payouts to select members, for a total of $1.3 million in total returns in 2024, based on 2023 results.
“Our dedicated employees, leadership team, and board of directors, combined with the support of our members and communities, all contributed to a successful year at Fusion,” states Darwin Johns, CEO of Fusion Credit Union. “Our patronage announcement is a testament to the trust and confidence placed in us by our members and we are proud to reward and thank them for their loyalty.”
A patronage allocation is a value returned to a member of Fusion Credit Union based on their relationship with the credit union.
The patronage amount is a portion of interest paid and earned during the past year and varies from member to member. All patronage allocations are retained in a Surplus Share account and select member groups receive cash payouts.
Guided by the sentiment, “Here for Good”, Fusion is committed to investing in the future of their communities and contributing to a prosperous future for all residents. “Our members place their faith and trust in us, and in return, we invest in the aspirations of local entrepreneurs, contribute to local organizations, and support grass-roots initiatives that build our economies,” says Johns. “Channeling these resources back into our communities generates local growth and creates opportunities for all.”
This year $784,000 will be paid out in cash to members 65 years of age and older and those under age 19, as well as members who hold over $15,000 in surplus shares. All eligible members will receive their pay-outs in May, while patronage allocations will appear on member statements in April 2024.
Over the past six years, Fusion Credit Union has rewarded members with over $9.69 million in patronage allocations and cash pay-outs.
As of May 1, service fees will increase by a small increment. These are reviewed annually according to information at www.fusioncu.com/en/service-fees and management says that Fusion has neither the lowest nor the highest service fees.
For more information go to www.fusioncu.com
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Fusion Credit Union is a full-service financial institution serving over 30,000 members across 18 branches in the Parkland and southwestern Manitoba
