Press Room

Ideal Credit Union Has Paid Over $3.1 Million to Back to Its Members

Happy family posing for photo
The Butler family joined Ideal Credit Union 36 years ago in 1982. Their total VIP+ payout since 2013 is now over $2,450.

 (Woodbury, MN – January 9, 2018) – Ideal Credit Union has returned 10% of its 2017 earnings to members through its exclusive VIP Program, rewarding 4,406 VIP+ members with cash dividends between $50 and $600, which were automatically deposited into members’ savings accounts in January 2018. A total payout of $532,150 was returned to Ideal CU members as a result of the VIP Program. Ideal CU has paid out over $3.1 million to VIP members since the program’s inception. Ideal is the only credit union in Minnesota offering this type of rewards program, believed to be the first of its kind in the state.

“The VIP program is designed to encourage members to bring all of their accounts to Ideal and when they do, we reward their loyalty by paying an annual VIP dividend,” said Brian Sherrick, Ideal CU President/CEO. “Our staff works with members throughout the year to help them identify opportunities to grow their relationship with us and ultimately increase their payout. Because of our amazing Ideal team, we have increased our VIP+ members by 17% since 2012!”

To qualify, members must have a savings account, an active personal checking account and conduct a minimum of 144 checking transactions throughout the year via debit and credit card, checks, ATM and ACH transactions. Some members received a Deposit Bonus Dividend based on their average deposit balances throughout the year, while others earned a Loan Rebate Dividend, calculated on the amount of interest paid in 2017. Many members were eligible for more than one reward based on qualifying relationships. The highest amount paid to a member was $600.

Founded in 1926, Ideal Credit Union is a member owned financial institution that specializes in providing excellent member service, great rates and convenience to over 52,000 members. Ideal CU offers a complete range of services, including a full suite of electronic banking products, savings, checking, loans, mortgage products and title services, exclusive VIP member payback, business services, investment services and more. Offices are located in Eagan, Hugo, Inver Grove Heights, North St. Paul, Stillwater and Woodbury. Visit idealcu.com for details and directions.

Rate this blog entry:

Related Posts

Slider
2018 Holiday Hours


New Year's Day
Monday, January 1st
All locations closed.


Martin Luther King Jr Day
Monday, January 15th
All locations closed.


Presidents' Day
Monday, February 19th
All locations closed.


Good Friday
Friday, March 30th
All locations open regular business hours
Lobby - 9:00 a.m. to 5:00 p.m.
Drive-thru - 9:00 a.m. to 5:30 p.m.


Memorial Day
Monday, May 28th
All locations closed.


Independence Day
Wednesday, July 4th
All locations closed.


Labor Day
Monday, September 3rd
All locations closed.


Columbus Day
Monday, October 8th
All locations closed.


Veterans Day
Monday, November 12th
All locations closed


Thanksgiving Day
Thursday, November 22nd
All locations closed.


Day after Thanksgiving
All locations are open regular business hours
Lobby - 9:00 a.m. to 5:00 p.m.
Drive-thru - 9:00 a.m. to 5:30 p.m.


Christmas Eve
Monday, December 24th
All locations open regular business hours
Lobby - 9:00 a.m. to 5:00 p.m.
Drive-thru - 9:00 a.m. to 5:30 p.m.


Christmas Day
Tuesday, December 25th
All locations closed.


New Year's Eve
Monday, December 31
All locations open regular business hours
Lobby - 9:00 a.m. to 5:00 p.m.
Drive-thru - 9:00 a.m. to 5:30 p.m.


New Years Day
Tuesday, January 1st
All locations closed