Sign-Up Farm Dividend
Terms & Conditions
We’re thrilled to offer our new partners an exciting incentive to join us -- the Walden Mutual Farm Dividend. We hope many of you will take advantage of this promotion to enjoy locally farmed food and reinvest in your local business ecosystem. Please take a moment to read the eligibility requirements below:
What Is A "Farm Dividend"?
The Farm Dividend is a Grow Local account credit of up to $100 for you to use at local farms, farmers markets, or related businesses across New England and New York. We plan to offer our entire community a version of the Farm Dividend for the first time in the summer of 2023, but as a special offer to new partners, we're offering additional $100 credits to qualified depositors.
It’s a time-bound promotion (which we may – at our discretion – renew annually).
We’re using the term “dividend” in this context because it ties back to our roots as a mutual (where a portion of profits are paid back to the community of owners), but be aware that, technically speaking, this is not a dividend; instead, it’s a time-bound promotion subject to renewal by the bank at its discretion.
Who MIGHT RECEIVE THIS OFFER?
If you:
- Were referred by a friend who's one of our existing partners
- Were referred by a member of our board or one of our corporators
...you might have received this offer.
Who is eligible for the Farm Dividend ?
Any new partner who received the Farm Dividend offer is welcome to use it, as long as they complete both of the following by the Qualification Date (which is defined below):
- Open a Grow Local account
- Keep it open for at least 3 month
- Maintain an aggregate balance (across all active Grow Local accounts and Local Impact CDs) of at least $5,000 at the end of the 3 month period.
Each qualified new partner (as identified by Social Security Number or Tax ID Number) is eligible for a single Farm Dividend regardless of the number of accounts they may have open. Jointly-held accounts owned by two separate partners are eligible for a single Farm Dividend, to be used jointly by the account holders. Accounts for individuals (i.e. Grow Local accounts and Local Impact CDs) are the only eligible account type (i.e. Grow Local Business accounts and loans are ineligible).
How do you use the Farm Dividend?
There are two steps:
- Once you've hit the 3-month mark and satisfied the qualification criteria laid out above, fill out our Farm Dividend survey to let us know the farm, farmers market, or related business where you plan to use the Dividend. We’ll send the survey to your email on file. Eligible businesses come in many shapes and sizes, so as long as you choose a business in New England or New York that sells locally-produced food directly to individuals, you’re good to go. If you can’t pick just one, you’re welcome to list multiple qualifying farms and split your spend between them.
- Next, use your Walden Mutual Partner Card to make a purchase at the qualifying business you chose above. You may make your purchase on-site at the business or online. As a reminder, “Partner Card” is what we call the debit card you receive when you open your Grow Local account.
- That’s it! Within 30 days of the promotion’s end (in this case, the end of your 3-month qualification period) we will credit your Grow Local account with up to $100 (based on the amount you spent at your selected business) if you followed the steps above. If you spend less than $100, we reserve the right to only credit you an amount equal to the amount you spent at the business.
What businesses are eligible?
Farms and farmers market, and “related businesses”. Related businesses are local businesses that resell goods you might otherwise buy from a farm or farmers markets. This could be your neighborhood co-op, a local general store that sells small-batch food goods, or an online marketplace that delivers sustainably produced food goods to your door.
If you have a question about a local business you love, send us a note! We’re happy to help.
Other Legal Notes
Failure by any eligible participant to satisfy any of the requirements laid out above within the promotion terms will result in ineligibility.
Multiple account opening offers cannot be combined.
We also reserve the right to exclude any participant from the promotion for any reason, including suspected fraud, misuse, or if suspicious activities are observed. The bank also reserves the right to stop or make changes to the promotion at any time.