Bonus Rewards

Get even more for your MECU membership
Open an Account Member Perks

Take advantage of our rewards program 

When we say that it pays to be a MECU member, we really mean it! As a not-for-profit credit union, we give back to our members in many ways: better rates, lower fees, and our popular Bonus Rewards payout1. For over 38 years, MECU has paid a special dividend to members – nearly $100 million in total!

With Bonus Rewards, you share in the credit union’s profits because you are not just a member, you are also a part-owner!


Bonus Rewards is a unique benefit of MECU membership. As a member-owner, you can earn a special dividend, paid out every year, based on your overall account relationship (savings and loans).

All members who meet the following are eligible for Bonus Rewards:

  • You have a qualifying deposit or loan account relationship.
  • You are a member in good standing — defined as $5 or more in your primary share account, no contractual loan delinquencies, and no negative account balances — at the time of payout.
  • You meet the minimum Bonus Rewards payout, to be determined by the MECU Board of Directors each year.

Each year, the Board of Directors determines the total Bonus Rewards payout based on MECU’s overall financial performance. Individual Bonus Rewards are determined based on a member’s interest earned on qualifying savings accounts and interest paid on applicable loans.

For example, the Bonus Rewards for the second half of 2017 were calculated as follows:

  • Bonus Dividend – 14.1% bonus dividend on total dividends and interest earned
  • Loan Interest Refund – 2.53% refund on loan interest paid
All qualifying Bonus Rewards will be paid by March 1 for the previous calendar year. 
Bonus Rewards are deposited in primary member’s share savings account.
The primary account owner, or tax-reported owner, will receive the total Bonus Rewards payout for all accounts where he/she is the primary account owner.
The more you use MECU for saving and borrowing, the more you can earn. Boost your future Bonus Rewards by bringing all your accounts and loans to MECU. With our LoanSaver tool, it’s easy to switch your loans to MECU, and you could save thousands in interest. Calculate your potential savings today.
While we intend to continue offering this valuable benefit, the Bonus Rewards dividend is discretionary and approved annually by MECU’s Board of Directors.
  • Cashback Checking
  • VISA credit cards
  • FHA mortgages
  • Mortgages not serviced by MECU
Bonus Rewards will be reported on IRS Form 1099-INT and any applicable taxes are the responsibility of the recipient. Please contact a tax advisor regarding any matters pertaining to such reporting.
Bonus Rewards dividend is discretionary and approved annually by MECU’s Board of Directors. Dividend is not guaranteed and amounts may vary based on membership engagement level. Not everyone receives a dividend and member must be in good standing and meet other criteria on processing date to qualify. Contact MECU to see if you qualify. Dividends are reported to IRS and a 1099 form will be issued at year-end.  Dividends, if paid, go into MECU primary Share Savings account. Any applicable taxes are the responsibility of recipient.