HUNT VALLEY, Md.–Two more credit unions have announced year-end bonus dividends and interest rebates.
Atlantic Financial FCI is paying a 2017 year-end dividend bonus to its members.
AFFCU reported it is returning 27% of its 2017 net income to its members. The 2017 member bonus is being distributed according to each member’s engagement with AFFCU throughout the year and based on the total number of share accounts (savings and checking products, excluding primary share account) and the number of loan products open in 2017.
“At AFFCU we’re driven to serve and provide our members with the everyday solutions that deliver significant savings through high earnings and low loan rates,” said President and CEO Matthew Piazza. “Being able to award an annual member bonus is like the icing on the cake. Our members’ engagement and use of services is key to driving the credit union’s success. As the credit unions only, and most important, stakeholders, we felt it was prudent to share this mutual success with them. This is another way to highlight how every member matters at AFFCU.”
Meanwhile, in El Paso, Texas, evolve Federal Credit Union said it is paying a $1.75 million "patronage dividend” to its members.
The $306-million evolve FCU said individual dividend amounts are determined by each member’s product relationship. “Each product was given a percentage value in the calculation of the patronage dividend – the more services used, the higher the return,” evolve said in a statement.
More than 12,500 evolve FCU members received a deposit
“This patronage dividend is for those members who have made evolve Federal Credit Union their financial institution of choice,” said President/CEO Ken Walters. “2017 was yet again an exciting and very successful year for the credit union. As a cooperative, evolve understands we are only as successful as our membership makes us.”