Local Credit Union dividends

Cornerstone Credit Union announces the payment of $1 million to members through the Member Ownership Program. The Board of Directors of Cornerstone Credit Union is proud to declare the payment to members based on the financial success of 2012.

Kevin Lukey, Chief Executive Officer of Cornerstone Credit Union comments, "With Cornerstone Credit Union being a member-owned institution, we are always excited when we can share the success of our credit union by paying a portion of our profits back into the hands of our members and owners." Lukey adds, "There are many reasons to be a member of Cornerstone Credit Union, but one of the tangible benefits is the Member Ownership Program. Our Member Ownership Program is based on Member Patronage - in other words, the profits are returned to members based on the amount of business they have conducted with our credit union in the previous year."

Based on business from 2012, members of Cornerstone Credit Union receive patronage calculated on 3.0% rebate on interest paid on loans and lines of credit, 3.0% bonus on interest earned on savings and term deposits, and 10.0% on qualifying service charges.

The $1 million patronage payment to members is only one way Cornerstone Credit Union shares their success. Another way is the commitment to the community, demonstrated through the numerous contributions that Cornerstone Credit Union provides to local community groups, events and organizations throughout the region. In 2012, Cornerstone Credit Union supported over 450 community groups, events and organizations by investing over $248,000 back into the communities they serve. Cornerstone Credit Union's community investment program supports a wide range of initiatives including youth, education, sports, agriculture, arts and culture, healthcare, economic development, non-profit organizations and charitable donations.

Lukey comments, "Check out our video highlighting our community investment over the past year. We are proud to support the communities we serve, and believe that community leadership goes far beyond financial support; it is about leading the way and making a difference."

Cornerstone Credit Union employees also show their support by volunteering thousands of hours each year in their communities. The staff invested over 6,100 hours of volunteer time to worthwhile local initiatives throughout the Cornerstone Credit Union region in 2012. Lukey adds, "Our staff give back to their communities, not because they have to, but because they want to-it's the Cornerstone way."

Cornerstone Credit Union serves approximately 25,000 members with total managed assets exceeding $986 million. Cornerstone Credit Union employs 199 staff with branches located in the following communities: Archerwill, Bjorkdale, Elfros, Ituna, Kelliher, Lestock, Rose Valley, Saltcoats, Springside, Theodore, Tisdale, Wynyard and Yorkton.