Golden 1 Credit Union gives $20 million in ‘surprise deposits’ to its members
Sacramento-based Golden 1 Credit Union gave its members an early holiday gift this week, totaling $20 million.
Golden 1 in a news release Tuesday said it distributed that eight-figure total across nearly 1.1 million accounts the same day, its first “surprise” giveback in five years.
The credit union gave members $18 million in 2014, and said in Tuesday’s statement that the giveback is a way of thanking customers for their loyalty and celebrating recent, strong growth.
Eligible members saw deposits of at least 25 percent of their total dividends for 2019 through Oct. 1 go into their accounts Tuesday morning, according to the news release. The giveback deposits had a minimum of $8, according to the Sacramento Business Journal.
“Golden 1 Credit Union has been a member-focused organization since day one, and we have an unwavering commitment to invest in those who invest in us,” Donna Bland, president and CEO of Golden 1, said in a statement. “Our members are key to our success, and we are excited to say ‘thank you’ in a very real and tangible way.”
Golden 1 has more than $12 billion in assets, more than 1 million members and employs 1,800, according to Tuesday’s news release. Credit unions pay earnings to members rather than shareholders.
This story was originally published November 20, 2019 at 8:28 AM.
