At the Annual General Meeting held last night, 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 more 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.
“We are grateful to our members for their continued support,” says Johns. “Your loyalty
empowers us to foster local growth and prosperity. Thank you for being invaluable partners
on this journey.”
