Gulf Winds approves $1M bonus for members

Published 12:01 am Wednesday, December 5, 2018

Gulf Winds Credit Union is proud to announce that a bonus dividend of $1,000,000 was paid to its members on December 1, 2018. The Gulf Winds Board of Directors approved the one-time bonus dividend payout at the board meeting held in October 2018.

The dividend members received is based on the calculation of their total deposit relationship, including balances in their savings, checking, certificates of deposit, IRA savings and IRA certificates of deposit. Members were rewarded for their financial relationship with Gulf Winds and their activity in our cooperative.

As a credit union, Gulf Winds is state-chartered, federally insured and operated for the benefit of its members who share in the cooperative’s performance. Dividends are one way that Gulf Winds members receive value from the organization’s success. Gulf Winds also returns profits to its members in the form of better rates, lower fees, and many other competitive products and services.

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“It’s been another strong year at Gulf Winds. The credit union is well capitalized and financially sound. This allows us to put money directly back into our member’s pockets,” said Chris Rutledge, President and CEO. “We’re proud to be a part of the Gulf Coast community and putting $1 million back into the communities we serve will have a very positive effect on the local economy.”