| We are delighted to report that we are issuing the largest patronage dividend in Shared Capital Cooperative history – $29,726 in total. All of our borrowers will receive the equivalent of 4% of the interest they paid in 2020 back to them. This is the equivalent of dropping the interest rate paid by one quarter of one percent in 2020.
We are proud to be a member-owned loan fund with more than 260 cooperative members throughout the U.S. By choosing to borrow from Shared Capital Cooperative, you are helping to support the fund’s growth and financial sustainability so that we can continue to expand and deepen our commitment to providing financing to the cooperative movement.
This dividend is in the form of equity credits applied directly to borrower accounts. It is not subject to tax (please consult your tax accountant for any other information). If you have not received notice or have other questions, email Adam at adam@sharedcapital.coop. |
