What is Patronage?

Sharing our success with the people who make it possible is an important part of being a Credit Union! Patronage shares our profits with YOU – our members! This is just one way that we thank you for doing business with us.
When the Credit Union annual financial obligations are met, our Board of Directors determines an allocation of surplus; part of this allocation may be in the form of a patronage payment. This payment is based on the interest paid on a loan or earned on savings & investments.

How does it work?

The Board of Directors annually considers the patronage payments based on the yearly financial performance of the Credit Union. When a payment is declared by the Board of Directors it is paid in the first quarter of the year. Members receive half of the allocation in cash and the other half is held in the Members’ Equity Account. Patronage payments may also be in the form of an interest return on your Member Equity Account. The more business you do at Radius Credit Union, the higher your Patronage payment will be!

What is an equity account?

An equity account is held at the credit union in the members’ name. This money stays with the credit union and is used to contribute to the overall wellbeing of the credit union. As a regulated financial institution we must hold certain levels of capital, and equity accounts contribute to that calculation. The higher our capital grows, the higher the patronage payment we can give back to you – our members. Equity accounts earn the highest interest rate offered on deposits within the year and you can request the balance of your account by contacting any branch.