The Elko Federal Credit Union (EFCU) announced a $500,000 bonus dividend and community impact commitment. Both were approved at the EFCU Board of Directors meeting in December.
“The EFCU board of directors is devoted to servicing the financial needs of Northeastern Nevada as well as contributing to the wellbeing of our community. We feel strongly EFCU is only as successful as our members”, Jan Baum, Chairperson of the EFCU Board of Directors, commented, “We are excited to announce our current year bonus dividends and community impact commitment. EFCU board believes our community impact commitment to mental health awareness and suicide education and prevention is another step towards servicing our community for the long-term.”
The one-time bonus dividend consisted of a $250,000 loan interest refund to our borrowers, as well as a $50 per share dividend payment to our Moola Moola and Student Share Accounts, regardless of account balance. Additionally, EFCU is proud to announce a community impact commitment in the amount of $150,000 that will be utilized within our primary field of membership areas and specifically targeting mental health awareness and suicide prevention.
“Community is what we are all about”, stated Todd Sorenson, EFCU President and CEO “What a better way to start off 2023 than to thank our membership via a refund on loan interest and to be able to provide a meaningful impact to our youth and student members, many who have not yet experienced a strong earning power on share deposits. I am equally excited about the opportunity EFCU has to provide a community impact commitment in a BIG way, which is in addition to our existing community involvement participation.”