Hello, I'm Doug Fekr. Welcome to Wright-Patt Credit Union, a member-owned cooperative where you can save better, borrow smarter, and learn a lot. You know, our community dealt with a lot of financial uncertainty this last year. Despite these challenges, Wright-Patt Credit Union had one of its best years ever on behalf of members in 2009. So good that we were once again able to give a little extra back to the members who supported their credit union this past year. Today, I'm excited to announce that your board of directors has approved a special patronage dividend for 2009 of over four million dollars to be paid to Wright-Patt members. Next, individual dividends are calculated based on each member's use of their credit union. Eligible members will receive at least ten dollars, while some high-use members will receive several hundred dollars for their credit union loyalty. You know, our employees know better than anyone else why members choose to belong to Wright-Patt. Let's hear what some of them have to say. "I am very proud to work at Wright-Patt Credit Union. When members are paid the patronage dividends, they feel secure. They know we're not going anywhere. We're here for you when you need us, and I'll do whatever I can to help. We've been here for over 75 years, and we're not going anywhere. We're here for the long run. The more you use your credit union, the more you benefit from it. I'm proud to work at Wright-Patt Credit Union." "In these tough times, Wright-Patt continues to focus on its members and is even giving back, putting some of your hard-earned money back in your pocket. When you walk in the door, you'll see the difference. It is very important to me to have a close personal relationship with all of...
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Are patronage dividends taxable to individuals Form: What You Should Know
Form 1099-PATR, Taxable Distributions Received from a Nonresident Alien Individual (W-2) Form and that may be subject to federal income tax withholding. For example, the IRS withholds 10% federal income tax and at least 50% federal state tax from a U.S. resident's income (i.e.
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