Kindred Credit Union is pleased to announce that it recently shared $1,040,000 from its 2019 earnings with members. Each year Kindred allocates a significant portion of its annual earnings to return to members through its Profit Shares program. In fact, over the last 10 years Kindred has shared over $12 million with members.
As a values-centred, faith-inspired financial cooperative, we’re called to manage the funds entrusted to us with integrity as we walk with our members on their journey to be good stewards of their finances. For Kindred, stewardship also means choosing to give back to our members and the communities in which we live and work. And in the midst of the COVID-19 pandemic, this is more important now than ever.
The Profit Shares calculation considers members’ deposit and loan business with the credit union. All members receive a minimum of $5 in Profit Shares each year, and many receive much more.
“Kindred is built on our members’ success, and it’s their commitment that allows our credit union to thrive,” notes Ian Thomas, Kindred’s Chief Executive Officer. “We believe that sharing our success is the right thing to do. It’s part of who we are and how we live out our purpose.”
Kindred’s Board of Directors approved the 2019 Profit Shares amount late last year based on very positive financials that included a successful Investment Shares offering where Kindred raised $25 million in capital. While the current financial environment is changing rapidly amid the COVID-19 crisis, Kindred’s history of weathering financial uncertainty during times of crisis can be attributed to prudent fiscal responsibility and members’ unwavering support of their credit union.
For further details on Kindred’s Profit Shares program, please visit our Membership page.
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