DoverPhila gives back to members and community
DoverPhila Federal Credit Union gave back $13 million paid throughout the year to its members and the Tuscarawas County community in 2024. This exceeds last year’s $9 million, and it also marks the 30th consecutive year DoverPhila announced a bonus dividend.
The $13 million total includes a range of financial benefits such as low-cost auto loans, competitive rates on interest-earning accounts, free financial resources, and an array of products and services.
Member’s year-end dividend
As part of this giveback, DoverPhila returned $540,000 to members through a year-end bonus dividend, which was deposited into their accounts on Jan. 1.
Additionally, DoverPhila distributed $10 dividends to approximately 1,400 youth members enrolled in DP’s Kids Club and DP’s Savers Club.
As a member-owned, community-focused financial cooperative, DoverPhila’s ability to reward its members stems from the relationships it maintains with them including earnings on accounts, interest paid on loans and debit card point-of-sale activity.
Community contributions
DoverPhila made an investment in the community by partnering with local organizations to support initiatives in health, education, scholarships, leadership development and no-cost financial literacy resources.
Highlights of its contributions include the following:
—Over $40,000 to United Way of Tuscarawas County through donations and sponsorships to support programs improving the quality of life for individuals and families in need.
—Almost $30,000 in no-cost financial resources for local schools and community organizations.
—$10,000 for Starlight School’s new playground project, providing a space for students with developmental disabilities and the community.
—$10,000 to Leader’s Edge ACTIVATION Program, delivering character development and leadership opportunities to over 60 schools and 7,200 students.
Additional sponsorships and donations supported organizations such as East Central Ohio ESC’s Family Reading Festival, Tuscarawas Arts Partnership’s Adelante Arts Camp, Rainbow Connection, Kent State Tuscarawas, Leadership Tuscarawas, Friends of the Homeless of Tuscarawas County, Tuscarawas Clinic for the Working Uninsured, Tuscarawas County Community Hospice, Tuscarawas County Humane Society, Tuscarawas Philharmonic, Tuscarawas County Fair, Tuscarawas County Literacy Coalition, Big Brothers Big Sisters, Cleveland Clinic Union Hospital’s Run for Home and more.
Financial programs and resources
The Ohio Department of Commerce and the National Credit Union Foundation awarded DoverPhila with more than $20,000 in financial literacy grants. The funds supported initiatives like the award-winning Banzai program, Finances 101 the Game and various financial wellness workshops.
The credit union provides these resources at no cost to credit union members, to over 40 area schools, to local organizations and to the broader Tuscarawas County community.
Expansion of products and services
In 2024 DoverPhila expanded its suite of products and services to help members manage their finances even more conveniently. DPFCU’s enhanced mobile banking app now includes features like debit card controls, allowing members to set spending limits, freeze and unfreeze cards, and receive real-time alerts for better security and control over financial accounts.
The credit union introduced a Credit Builder Program designed to help members establish or improve their credit while providing personalized tools and guidance to support long-term financial success.
DoverPhila started offering an 84-month term loan option on brand-new autos, making it easier for members to finance their vehicles with lower monthly payments.
“We are thrilled to have reached this milestone and to continue our tradition of rewarding our members,” said Jason Garner, CEO of DoverPhila Federal Credit Union. “The trust our members place in us enables us to make a lasting impact in the community, and we are committed to enhancing their financial well-being through a variety of products, services and resources.”
Looking ahead to 2025
DoverPhila is committed to expanding member benefits in 2025 by enhancing its digital resources, adding features to its mobile banking services, developing new lending opportunities and more.