Profit $haring Program

Sharing our success with the people who make it possible is a fundamental principle of being a credit union. It’s our way of saying thanks for being a loyal and committed member of Lakeland Credit Union.

Lakeland Credit Union’s Profit $hare program creates a balance between rewarding you for being a loyal member and ensuring the sustainability of our credit union by building its capital base. To achieve this goal, Profit $haring is paid out in both cash and common shares, based on the profitability and equity position of the credit union.

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The Profit $hare program has two components: Patronage and Common Share Dividends.

Patronage – Rewards members for banking with us and is paid to the common share account, based on a percentage of the interest paid on loans, earned on deposits and the service charges paid in the year (the specific percentage is determined on an annual basis). Exclusions and conditions apply to different products.

Common Share Dividends – Paying dividends as shares strengthens our financial position and builds a strong share base, which ensures we will continue providing you with superior service and financial solutions. It also allows members to earn more dividends in future years on the re-invested Common Shares.

The total amount of the Profit $hare Program paid to members, including both Patronage and Dividends, is based on our credit union’s performance throughout the year and determined by the Board of Directors at the end of our fiscal year.

If you have any questions about our Profit $hare Program, please visit your local branch and one of our knowledgeable employees will be happy to help you.

The more business you do with us, the more you share in our profits! We succeed together!

 

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