Synergy members will benefit with more than $1.9 million allocated to their ProfitShares accounts in June.
The ProfitShares program is what distinguishes Synergy from other financial institutions. When the credit union has success, so do its members – not shareholders. The more business members do with qualifying products, the greater their share. Each year, Synergy allocates up to 20 per cent of its income for distribution back to members in the form of ProfitShares.
Since the program’s introduction in 1983, more than $80 million has been allocated to members’ ProfitShares accounts. This fall, Synergy will pay out cash to members who have reached a certain level in their ProfitShares accounts ($10,000 for individuals, $30,000 for businesses/organizations). To date, more than $40 million in cash has been paid to members in the form of ProfitShares.
“We are incredibly proud of this program because it makes a difference in our members’ lives,” said Synergy Chief Financial Officer Christine Tucker. “ProfitShares is certainly a benefit of being a member and we want to thank them for continuing to support Synergy.”
For more information, check out our ProfitShares page.