Sharing proceeds with members, not shareholders
Member Bonus Payout (formerly Plus Payout) is back for 2021! Here’s a quick refresher about the program:
Member Bonus Payout is our commitment to return excess earnings to participating members when the credit union performs well.
So, what does that mean to you? It means the more business you bring to Arizona Federal – like checking, credit cards, loans and home mortgages – the bigger your potential payout and the more we’ll have to share with all members.
In fact, we’ve paid out more than $45 million to members since the program began in 2012!
Frequently Asked Questions
Members must have an open Checking, Savings or Money Market account in which to receive the payout and have earned a bonus of at least $5 to qualify.
To see how much you were paid:
- Log in to your online account or the mobile app and check your account history, OR
- Check your December 2021 month-end statement for your payout amount.
Member Bonus Payouts were deposited to qualifying members’ accounts on December 31, 2021.
Eligible payouts for Loan Interest Refund, Bonus Dividend and Mortgage Origination Bonus were combined into a single Member Bonus Payout amount as applicable.
Reminder: Payouts are deposited to your primary account.
For 2021, we calculated the payout based on the following:
- The Loan Interest Refund was based on the amount of interest paid on each qualifying loan or credit card account.
- The Bonus Dividend was based on year-to-date dividends earned from all deposit products, including Certificates.
- The Mortgage Origination Bonus was a one-time bonus equal to one-tenth of one percent of the original loan amount.
You must have an open Checking, Savings or Money Market account in which to receive the payout and earned a bonus of at least $5 to qualify. The account must have been opened by December 31, 2021 to be eligible.
Loans that are delinquent more than 60 days are not eligible to receive a loan interest refund.
When the credit union exceeds financial performance expectations for the year, a percentage is given back to our members in the form of the Member Bonus Payout on December 31.