ESL Distributes $29 Million to Members in Annual Owners’ Dividend Payout
ROCHESTER, N.Y., January 17, 2025 – ESL Federal Credit Union announced a $29 million payout to members in its annual Owners’ Dividend distribution for 2024. The payment represents the second largest single payout in the Owners’ Dividend’s history, and a 16 percent increase over the January 2024 distribution. More than 420,000 eligible ESL members received an Owners’ Dividend.
The Owners’ Dividend payout was made based on the credit union’s most recent annual financial activity and is a fulfillment of the ESL mission to share its financial success with its members. Following this payout, ESL has now shared more than $320 million with its members through the Owners’ Dividend since 1997, including $154 million paid to members since 2020.
“This $29 million in earnings paid out to our members ensures we are sharing our financial success with those who directly contribute to it,” said Faheem Masood, president and CEO, ESL Federal Credit Union. “We extend our heartfelt thanks to our members for their ongoing support, as it is their trust and loyalty in us that has allowed this dividend to be paid out each year for almost 30 years.”
Eligible ESL members receive an Owners’ Dividend based on established criteria, which includes account balances, card transactions, and relationships with the ESL Wealth Management teams. This is in addition to a base starting payout of $10.
For more information about the ESL Owners’ Dividend, please visit esl.org/aboutownersdividend. 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 436,000 members and 16,800 businesses. Founded in 1920, the company provides personal banking, business banking, mortgage services and wealth management services through its locally based 24-branch network; telephone, mobile and online banking; and live chat center.
The Rochester-based financial institution employs approximately 950 people in the Greater Rochester area and holds more than $9.5 billion in assets. Since 1996, ESL has paid out 30 consecutive Owners’ Dividends to its members totaling more than $320 million. Since the creation of its Community Impact initiative in 2018, ESL has reinvested more than $122 million in grants throughout the community. The company has appeared on Great Place to Work® lists since 2010. ESL Federal Credit Union is headquartered at 225 Chestnut Street, in Rochester, and can be found online at www.esl.org.
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Josh Baer | he/him/his | Manager, Corporate Communications & Social Media | ESL Federal Credit Union | 225 Chestnut Street | Rochester, NY 14604 | Office: 585.336.1533 | Cell: 585.736.8730 | E-mail: jbaer@esl.org | esl.org |