So, what exactly is a ‘Dividend’ and ‘Loan Interest Rebate’?

Dividend

Dividends are similar to interest. If a credit union declares a dividend at the end of its financial year, each share you hold for that year is eligible for a dividend. It is a way for us to give back to our members and show our appreciation for your loyalty over the course of the year. The more shares you have with your credit union, the greater the dividend you will receive. The amount paid to members varies from one credit union to another and not all credit unions are able to offer a dividend to members. Fortunately, Kilcloon Credit Union enjoyed a sound financial year and we are delighted to be in a position to give back to our members.

Loan Interest Rebate

Loan Interest Rebate is an extra benefit for members who borrow from credit unions. An interest rebate means that you get a refund of part of the interest you have paid on your credit union loan(s) in the past year.

Thank you for your continued loyalty to your local credit union!