The following requirements apply to accounts (i.e. Checking, Loan and/or Deposit ) under a single membership number to be eligible for Ideal CU’s Special VIP Dividends

VIP Patronage Dividend Requirements:

  1. Be a member in good standing as of December 31 with at least $1.00 in your primary Share Savings
  2. Own an active consumer checking account from which you performed 144 or more withdrawals between January 1 and December 31 each year
  3. Have no loan charge-offs or loan delinquent by 60 days or more between January 1 and December 31

Deposit Bonus Dividend Requirements:

  1. Meet the VIP Patronage qualifications listed above and
  2. Have at least one Ideal CU deposit account with a balance including:
    • Premium Money Market
    • Premium IRA Money Market
    • Health Savings Account
  3. Maintain an average daily balance of $5,000.00 or greater in combined deposit accounts & certificates of deposit accounts. (Excludes Business Checking & Deposit Accounts)

Loan Rebate Dividend Requirements:

  1. Meet the VIP Patronage qualifications listed above and
  2. Paid a minimum of $500 in total interest on qualifying Ideal CU loans during the previous calendar year under a single membership number.
  3. Have a minimum of two or more qualifying Ideal CU consumer loans (excludes business loans) that carried a balance within the calendar year which includes:
  • Mortgage
  • Auto & recreational vehicle
  • Home Equity & HELOCs
  • Visa Credit Cards

Joint owners will not receive a separate payout. Loan interest and deposit balances cannot be combined or shared with other accounts. Business Accounts, Custodial Accounts, and Trust Accounts are not eligible. All transaction activity based on the previous calendar year. Special dividends are reportable on IRS form 1099-INT. The Credit Union reserves the right to modify and cancel the VIP Program and Special Dividends at any time.

To qualify as a VIP member, you must have a minimum S1 (Regular Share Savings) balance of $1.00. Program excludes business loans and any charged off loan and delinquent loan members as of 12/31/2014. The Visa Credit Card account needs to have a balance prior to the last Visa statement to qualify.