Veridian distributes $1.83 million in bonus dividends
Veridian Credit Union announced today that it distributed $1.83 million in bonus dividend payouts last week to more than 173,000 member accounts. The payments were made to holders of member equity savings accounts, representing a one-time 6 percent dividend payment on the accounts for the month of December. The Waterloo-based credit union initiated the member equity savings account in 1995; bonus dividend payments are made to members when the credit union’s capital-to-asset ratio exceeds 10 percent. The last such bonus dividend payout was made in 2000. “The last year has been successful for Veridian, and we believe it’s important to return that success to our members,” said Monte Berg, Veridian’s senior vice president of finance.