Membership > Patronage Rebate Program

If you are a member of the Salmon Arm Savings and Credit Union, this rewards program is designed for you. 2010 was our biggest rebate year ever, with $4.4 million being returned to our members. Have a look at our 2010 Patronage Rebate results here.

What is the Patronage Rebate Program?

Simply put, it is SASCU's way of sharing profits with our members. Our rebate program is based on the credit union's financial performance. Annually, your Board of Directors decides whether it will be paid or not. For the past 14 years, Salmon Arm Savings and Credit Union has given $36.4 million back to members.

How much do I get?

That depends on how much business you do with us. It is based on percentages from interest earned, interest paid and service charges incurred in the previous year. The more banking business you do with us, the bigger your rebate.

For example, a member who has a $150,000 mortgage at 5%, a $40,000 investment at 2% and a package chequing account received approximately $1,400.

When and how is the rebate paid?

The rebate is paid once a year in April. If you are eligible for a rebate, your rebate will be deposited directly into your Patronage account.

What is a Patronage account?

The Patronage account is an account that is created for each member receiving Patronage. For 2010, your Patronage rebate has been deposited directly into this account. You can access your Patronage account using your usual member account number. The funds in this account can be withdrawn, transferred to another account or you can leave them in the account. It's up to you.

Become a member and share in the success – contact one of our 3 branches or call us today to become a member of the Salmon Arm Savings and Credit Union.