4Front Credit Union bonus to members tops $1 million

4Front Credit Union’s all-volunteer Board of Directors announces the issuance of a bonus dividend totaling $1,051,834.24 paid to qualifying member-owners on Dec. 31, 2015.


4Front Credit Union began operations on Jan. 2, 2015, and is the result of a partnership between long-standing Northern Michigan financial institutions Members Credit Union and Bay Winds Federal Credit Union.

“We’re pleased to demonstrate the concrete value of 4Front membership a short twelve months after the launch of this combined institution,” said David Leusink, 4Front Credit Union’s CEO. “It’s exciting for our team to continue delivering to our members the tangible benefits of banking with 4Front.”

Bonus dividends are unique to credit unions. Unlike big banks, where profits are diverted to shareholders at the cost of their customers, credit unions return revenues to their member-owners.

The successful 2015 was due in large part to both sustained lending growth and membership adoption of 4Front’s forward focused products and account management tools.

No-cost services like the credit union’s leading edge online and mobile banking platform provide enhanced account access while generating institution-wide cost savings.

“Every single day, 4Front Credit Union revenues are returned to our members in the form of lower loan rates, higher deposit yields, and low or no service fees,” Leusink stated. “We were able to take it a step further at the conclusion of this past year, putting those revenues where they matter most – in our members’ wallets.”