Purpose

The purpose of the Member Equity Plan is to provide each member with an opportunity to share in the earnings of the Credit Union while maintaining the Credit Union in a strong equity position. In any business, it is important to have an adequate level of capital or ownership equity. Westoba Credit Union has developed a strong capital position over the years and is committed to continued growth and a strong equity base in the future.

We are involving members in this plan by allocating part of earnings to a special Member Equity Plan. This pool of earnings gives members the opportunity to participate in ownership of their Credit Union while providing an equity base for a stronger organization. Strong organizations have great opportunity for development and expansion; have more autonomy and control.

The amount any member receives is in direct proportion to the member's patronage of Credit Union services.

The Member Equity Plan is and will continue to be of great benefit to both the Members and Westoba Credit Union.

Commonly Asked Questions