When you become a member of the credit union you are a part owner. As such, your savings are called SHARES. Each $25.00 is considered a "share" in the credit union.

The amount of dividends you receive is based upon the credit union's net earnings. After setting aside a required amount for legal reserves the remainder is eligible for distribution to the members. Dividends are computed to each share from the day of deposit to the day of withdrawal and credited to your account at the end of each calendar quarter. Your total dividend for the year will be recorded on your year-end statement and it should be reported as interest income on your tax return.