You won’t see many banks sharing their profits with their customers, but we’re not like most.  When you’re a member of Western Division, you’re a member-owner and when we make a profit, you get a piece of it.  The more you use us, the more we share with you.  

To date, Western Division has paid back over $11,000,000 in Patronage Dividends to the membership proving the value and benefits of being part of a cooperative are real and significant.


$716,000 Patronage Dividend Paid to Members in 2023

A Patronage Dividend of over $716,000 was shared with members of Western Division on Wednesday, November 22, 2023.   The amount of each member’s dividend was based on his or her level of participation in the credit union – the greater the relationship, the larger the dividend.

At this time of Thanksgiving, we are most thankful for our members and the trust they have placed in us.  We hope this Patronage Dividend helps to make the holidays brighter and shows the value and benefits of being part of our financial cooperative are real and significant,” said Robert Harms, President/CEO.


How does the Patronage Dividend Work?

The Patronage Dividend is designed to reward members who conduct business with us during the year, and takes into consideration market conditions and the credit union’s performance.  As a result, the formula and criteria used varies each year.  The Patronage Dividend is not guaranteed to be paid every year, however, we have given back over $11 million to the members since 2003 and are the only local credit union in Western New York to do so.

All active members, in good standing, who paid interest or received dividends (January 1st – September 30th) in a sufficient amount to warrant a Patronage Dividend received:

11% of dividends received on Savings

5% of dividends earned on Certificates

20% of interest paid on Loans

The Patronage Dividend was paid in addition to regular dividends. The Patronage Dividend was credited to the Savings account (suffix 000).


What types of products qualify for the Patronage Dividend?

Loans: Personal, Vehicle, Recreational, Home Equities, VISA Credit Card and Mortgages

Deposits: Savings, Sub-Savings, Money Market, IRAs and Term Certificates


How do you decide how much?

The total amount to be disbursed is decided annually by the Board. The amount paid to each eligible member is based on that member’s business with us, and ranges from a minimum of $7.16 to a maximum of $716.

The Patronage Dividend is posted to the regular savings (000 suffix).  This information can be found by viewing your account and/or statement when you login to Online Banking, through our Mobile App or view your paper statement.


How are we able to pay the Patronage Dividend?

We were able to pay the Patronage Dividend because of our existing loyal members as well as new members that joined and took advantage of our excellent savings rates and low rates on loans. When more members use and contribute to the credit union, more value and benefits can be returned to all our members.

We sincerely appreciate our members’ support and continue to encourage you to continue to invite your family, friends and co-workers to experience the unique benefits of membership with Western Division.


I wasn’t paid a Patronage Dividend – why not?

The more you save and borrow, the greater opportunity for a Patronage Dividend.  Inactive, dormant, negative balance or delinquent accounts will negate a payout.  If you feel you have met the criteria, and did not receive one, please contact us.


Will this be included in my 1099-INT? 

Yes, the amount you receive for the patronage dividend will be included on your 1099-INT form for the tax year.


Will there be a Patronage Dividend every year?

A patronage dividend is a share of the profits that the Board, in their sole discretion, may choose to return to the membership on an annual basis. It’s one of the things that makes us different from a bank!

2003 – $250,000

2004 – $250,000

2005 – $300,000

2006 – $500,000

2007 – $1,000,000

2008 – $1,000,000

2010 – $750,000

2011 – $800,000

2012 – $780,000

2016 – $500,000

2017 – $800,000

2018 – $750,000

2019 – $500,000

2020 – $750,000

2021 – $1,000,000

2022 – $716,000

2023 – $716,000