At ESL, members, not stockholders, benefit from our earnings. Each year that ESL earns more than necessary to keep us strong and healthy, we return a portion of our earnings to members in the form of a cash dividend. In January 2009, more than 212,000 ESL members received a share of the ESL Owners' Dividend payout. That's a great return, and you can only find it at ESL!
To determine your Owners' Dividend, we simply add the total dividends you earned on your share accounts at ESL to the total interest you've paid on ESL loans throughout the year, then multiply by the Dividend Percentage Factor for that year. For the 2008 payment, the Dividend Percentage Factor was rounded to 3.357% (rounded to the nearest thousandths).
For example, let's say Mary Jones has a Mortgage, an Auto Loan and a Home Equity Loan with ESL, all of which she paid interest on. She also earns dividends from Money Maker and IRA accounts. Her interest paid and dividends earned total $10,970.90. Using a Percentage Factor for the year of 3.357%, Mary would have received a Dividend of $368.29.
| Loans | Share Accounts |
|---|---|
| Mortgage | Savings |
| Home Equity | Certificates |
| Auto | IRAs |
| Personal | Money Maker |
| Visa ® Credit Cards | Premier Money Maker |
| Home Improvement | Premier Checking |
Review your ESL statements and those from other financial institutions. On the calculator screen, enter how much you paid in interest and how much you earned in dividends and interest. You'll see why it pays to move more of your financial business to ESL.
Calculation based on 2008 Dividend Percentage Factor. Qualification for the Owners' Dividend is subject to eligibility requirements. Payment of a Dividend is not guaranteed. Membership subject to eligibility.
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