ESL credit union distributes $15M in additional Owners' Dividend payout
Press release:
ESL Federal Credit Union today announced it has distributed $15 million to members in an additional Owners’ Dividend payout for 2020.
Today’s distribution supplements the advance Owners’ Dividend payout of $20 million issued to members in June 2020 amid the COVID-19 pandemic. Totaling $35 million for the year, this marks ESL’s largest Owners’ Dividend ever.
“With this additional $15 million Owners’ Dividend payout to members and the $20 million payout from back in June, the $35 million paid in total to members for 2020 upholds our commitment to sharing our financial success with our members,” said Faheem Masood, president and CEO, ESL Federal Credit Union.
“The trust and loyalty of our members throughout our 100 years of serving Greater Rochester allows us to pay out this additional $15 million and supports our purpose of helping our community thrive and prosper in what has been an unprecedented and uncertain time for our community.”
With this latest distribution, ESL has now shared more than $185 million with its members over the program’s 25-year history.
The individual Owners’ Dividend payout amounts ESL members receive are based on established Owners’ Dividend criteria. For more information about the criteria, please visit www.esl.org/about-us/the-esl-difference/owners-dividend.
Qualification for the Owners’ Dividend is subject to eligibility requirements, and payment of the Owners’ Dividend is not guaranteed.
About ESL Federal Credit Union
With more than 100 years of locally owned history, ESL Federal Credit Union serves as a full-service financial institution to more than 374,000 members and 11,400 businesses. Founded in 1920, the company provides personal banking, business banking, mortgage services and wealth management services through its locally based 22-branch network; telephone, mobile and online banking; and live chat center.
The Rochester-based financial institution employs more than 860 people in the Greater Rochester area and holds more than $8 billion in assets. Since 1996, ESL has paid out 26 consecutive Owners’ Dividends to its members, totaling more than $185 million. The company has appeared on the Great Place to Work® Best Small & Medium Workplaces list for 10 years, since 2010. ESL Federal Credit Union is headquartered at 225 Chestnut Street, in Rochester and can be found online at www.esl.org
