Cottage Grove-headquartered Summit Credit Union announced an annual patronage dividend, called Cash Boomerang, of $2.66 million to its members. The giveback is based on the cooperative’s financial success and on a member’s use of Summit’s checking, savings, and borrowing services, as well as their length of membership.
The annual program will send a cash payout to 75,900 members. This is the 10th year of Cash Boomerang, which has paid out $22.6 million to Summit members in the last decade.
Members can redeem their cash payout via online or mobile banking and deposit it into any Summit account they choose. Cash Boomerang payouts not claimed are deposited into members’ accounts in early December.
