Summer Farm Dividend
Terms & Conditions
We’re thrilled to launch the Walden Mutual Summer Farm Dividend for the summer of 2023. We hope many of you will take advantage of this promotion to enjoy locally farmed food and reinvest in your local business ecosystem. The promotion will start on June 21, 2023, so please take a moment to read the eligibility requirements below:
What is the Summer Farm Dividend?
The Summer Farm Dividend is a Grow Local account credit of $100 for you to use at local farms, farmers markets, or related businesses across New England and New York. 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 is eligible for the Summer Farm Dividend?
Anyone with a Grow Local account in good standing with us is welcome to use the Summer Farm Dividend as long as the account has:
- Been open for six months or more prior to the start date
- Maintained an average balance of $5,000 or more over the previous six months
Each depositor (as identified by Social Security Number or Tax ID Number) is eligible for a single Summer Farm Dividend regardless of the number of active accounts they may have open. Jointly-held Grow Local accounts are eligible for a single Summer Farm Dividend, to be used jointly by the account holders. Grow Local accounts are the only eligible account type (i.e. Grow Local Business accounts, loans, and all CDs are ineligible).
How do we calculate average balance?
We get out the calculators and average the daily balances of your account for each day over the previous six months.
When does the Summer Farm Dividend begin?
On June 21, 2023 we will review all of our active Grow Local accounts to see who is eligible. If you qualify (based on the criteria laid out above), we’ll send a notification to the email on your account within the following 14 days. Starting from June 21, 2023 you will have until September 21, 2023 to take part.
How do you use the Summer Farm Dividend?
There are two steps:
- First, fill out our Summer 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, but you will also be able to access it via your online or mobile banking login. 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 food 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, September 21, 2023) we will credit your Grow Local account if you followed the steps above.
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 pasture-raised meat products from farms within your region.
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.
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.