TULLAHOMA, Tenn.–Ascend FCU has announced it will return $5 million to members in the form of a bonus dividend, loan interest refunds and rewards payments for debit card usage.
The $4.1-billion Ascend reported that with the 2023 return, it has disbursed more than $109 million to members since the member return program began in 2005.
“Our member return is another example of the great benefits Ascend provides,” President and CEO Matt Jernigan said in a statement. “Each year, we like to thank our valued members by putting money back into their pockets during the holiday season. Looking forward, we anticipate another year of continued financial strength and stability in 2024, and we are enthusiastic about what is ahead for our credit union and members.”
No Guarantee, But…
Jernigan added the member return is never guaranteed, but it is a goal of Ascend’s board to distribute it every year. AFCU cited its growing membership and usage of its offerings, as well as prudent management, for the ability to pay a return every year for the last 19 years.
The 2023 return will appear on members’ December statements.
Ascend Federal has more than 242,000 members.