International Credit Union Day 2018 Giveback: Atlantic Financial

On the platinum anniversary of International Credit Union Day, looks at how different credit unions return value to members to showcase the credit union difference.

Matt Piazza, CEO, Atlantic Financial Credit Union

For three years, Atlantic Financial Federal Credit Union ($91.4M, Hunt Valley, MD) has paid a bonus dividend to members in good standing at the Maryland-based cooperative. The individual payout calculation is based on the number of share account and loan products members hold with the credit union during a given year.

For 2015 and 2016, the credit union paid more than $90,000 to members each year. This past year, Atlantic Financial paid $80,000 in bonus dividends.

Here, credit union CEO Matt Piazza discusses Atlantic Financial’s great give back.


Atlantic Financial FCU
Data as of 06.30.18

HQ: Hunt Valley, MD
ASSETS: $91.4M
MEMBERS: 9,872
12-MO LOAN GROWTH: 15.1%
ROA: 0.35%

How does the credit union determine it can pay a dividend?

Matt Piazza: Our board requests we budget a specific amount, generally around $80,000-$90,000. No specific goal is required to pay this dividend.

How do you calculate how much to return and to whom?

MP: The board decides how to distribute. One year it was 2.5% interest paid on loans and a 2.5% dividend paid. This past year, we split the pool into two equal amounts and distributed between shares and loans.


What is the advantage of returning value in this way?

MP: It returns value to members beyond the great value they already receive. Additionally, the members are owners and should receive additional dividends when the credit union has a good year.

What communication channels do you use to announce and communicate the value of the dividend?

MP: We’ve used press releases, emails, and social media.

How do you return the money? How much did you return in your latest round?

MP: We directly deposit it into the member’s primary share account. We returned roughly $80,000 in January of 2018.

This interview has been edited and condensed.

Whether and when a credit union offers a patronage dividend varies across organizations. As does how they calculate the return and communicate the occasion. Read more Q&As from’s ICU Day special feature.

May 30, 2019

Keep Reading

View all posts in:
More on:
Scroll to Top
Verified by MonsterInsights