Here’s how Workers’ GiveBack Program works:
- Award formula. Payments are based on the average balance in accounts, including: personal and business checking, savings, IRAs, CDs, money markets, most mortgages, consumer loans, lines of credit, home equity lines and commercial term loans.
- Decision makers. Our Board of Directors determines whether to make payouts, based on how well Workers performs financially and our future capital needs.
- Trend line. 2020 marks our seventh consecutive year with a payout.
- Maximize returns. The sooner you get money into Workers’ accounts, the bigger your payback.
- Learn more. To figure out how much you might get, and to get answers to other questions about the program, use our GiveBack Calculator.
Putting Money in Our Members’ Pockets
Finance 101. A credit union is not a bank. A credit union is owned by its members – people who deposit money there – and not by shareholders. Workers is a credit union. Ergo, you’re a part owner. That means you share in our success – big time. We tally up the money in your checking and savings accounts, add in loan balances, and then figure out how much cash we’re going to give you each year. The 2019 GiveBack (paid out in 2020) totaled $3.3 million. This year, we’ll try to do better. Bank on it.