Profit Payout Records $9 Million Back to Members
Kansas City-based CommunityAmerica Credit Union announced their largest ever profit payout for their members. A total of $9 million is being paid to more than 100,000 of its members this month – a record-setting amount by over $500,0001.
“We are truly grateful that once again in 2021, we were able to support our members in such a significant way. We helped them navigate their day-to-day finances amidst more turbulent times and doubled down for those in their greatest time of need with skip payments, deferments, PPP and consumer loan programs. In the process of it all, we attracted even more individuals and businesses to CommunityAmerica and delivered an extraordinary year of performance. The best outcome of that performance is our ability to return profits to our members,” said Lisa Ginter, CEO. “Our Profit Payout program continues to set CommunityAmerica apart from other financial institutions and reinforce our mission to blanket Kansas City with our caring hearts.”
CommunityAmerica Credit Union is a not-for-profit institution which means profits are returned to their members through various incentives and programs. The Profit Payout program is a dividend that allows CommunityAmerica to share a portion of their profits with their members. For more information about the Profit Payout program, visit this link.
Profit Payout dividend is discretionary and approved annually by CommunityAmerica’s Board of Directors. Amounts advertised are representative of actual dividends paid in 2022. Dividend is not guaranteed and may vary based on criteria established by CommunityAmerica Credit Union and the total amount allocated by the Board of Directors each year. Not everyone receives a dividend and member must be in good standing and meet other criteria on processing date to qualify. Dividends are reported to IRS and a 1099 form will be issued at year-end. Any applicable taxes are the responsibility of recipient.