Today, Wellby, Powered by JSC FCU, one of Houston’s largest and most historically significant credit unions, announced a special member dividend of nearly $7 million, honoring their 60 years of service to Greater Houston.
“As we celebrate our 60th anniversary, we want to honor our partnership with our members and celebrate their unique financial journeys with this special member dividend,” shared Marty Pell, President and CEO of Wellby. “We have had the privilege of serving dreamers across Greater Houston for six decades, and we look forward to helping our members achieve all of their dreams, large and small, for many years to come.”
As a not-for-profit financial cooperative, Wellby returns profits to its members through diverse member benefits that help make realizing financial goals a reality. These benefits include competitive interest rates on loans and credit cards, typically higher dividend returns on savings accounts and deposits, no-to-lower-cost fees.
Eligible Wellby members will receive a unique special member dividend amount, calculated by a simple formula that considers their total balance or “shares” with Wellby and their tenure of membership.
Returning profits to members in this way also celebrates and honors the cooperative principles of credit unions: members contribute equitably to, and democratically control, the capital of their cooperative, and part of that capital remains the common property of the cooperative. Thereby, credit unions are able to return profits to members through diverse member benefits, like special member dividends.
Wellby has been rooted in Greater Houston for six decades. Originally created to support the brave men and women of Johnson Space Center who put the first man on the moon, they have a legacy of supporting their members’ dreams. They know that with the power to dream, anything is possible. Wellby will continue the celebration of their 60-year legacy of supporting Houston dreamers at their local solution centers in the coming months.
To learn more about Wellby, Powered by JSC FCU, and the nearly $7 million special member dividend, please visit wellbyfinancial.com.