2019 Member Spark Rewards Payments

Here's what you need to know!

In a nutshell, here's what you need to know about the 2019 Member Spark Rewards payments!

Key Numbers:

  • $642,000: Based on the 2019 year, we are sharing $642,000 in profits with our members! 
  • 4: The number of eligible products you need to hold as of December 31, 2019 to be eligible for Member Spark Rewards!
  • 2,580: The number of members who will receive payments.
  • $100 - $2,000: 2019 Member Spark Rewards payments range from $100 up to $2000 per member.
  •  700: The number of youth members who will receive a Reward payment. Even though our youth members aren't eligible for Member Spark Rewards, we still think they're pretty important!  All youth members will receive a nominal amount. 
  • $25: The amount each and every youth member will receive!

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Key Dates:

  • April 14: We will begin mailing Member Spark Rewards Statements
  • April 22: Payments will be processed
  • April 22: After your payment is processed, you will receive immediate access to your funds.  Simply transfer the funds from your Member Share account to your chequing or another deposit account and do with your reward whatever your heart desires! No wondering, no waiting! Take cash, buy yourself a gift, pay bills or invest for the future – it’s completely up to you. (P.S. Just remember: your $5 member share is NOT part of the payment and needs to be left in your Member Share account to be a member and remain eligible for future Rewards payments; a hold has been placed on your member share account for that $5)
  • May 31: Deadline to enter your Double Your Member Rewards contest.

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The 2019 Framework

Member Rewards is an annual profit-share payment to members based on their financial relationship with WCU. A member’s relationship is determined by the number of eligible products they use, along with added rewards for larger balances and length of membership. To be eligible for Member Spark Rewards, a member only needs to hold four WCU products as of December 31 of the previous year.

Rewardy

Rewardier

Rewardiest

Relationship Bonus Only 4 products to qualify! Gold star for you! 6-7 products 8 products or more! You, superuser, you!
Bonus Amount Determined annually based on profit. 2X Rewardy Bonus 4X Rewardy Bonus
2019 Bonus Amount $100 $200 $400

+ Plus

Balance Bonus (Deposits plus Loans) $750K - $1.25M $1.25M - $2.5M $2.5M +
Bonus Amount Determined annually based on profit. 2X Rewardy Bonus 4X Rewardy Bonus
2019 Bonus Amount $390 $780 $1,560

+ Plus

Loyalty Bonus At Least 10 Years as a member! 15 - 19 Years 20+ Years
Bonus Amount $10 $20 $40

= Your Reward Payout


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