PEORIA, Ill.–Citizens Equity First Credit Union has declared a $40-million extraordinary dividend for its members.
The $5.8-billion CEFCU said the amount to be paid to each member will be determined by the deposit interest earned by members and the loan interest paid by members during the first 11 months of 2017.
Over the past 18 years, CEFCU reported it has returned a total of $230 million in extraordinary dividends to its members.
In a video announcing the payment, CEO Mark Spenny shares stories of what the extraordinary dividend has meant for three different members, and also says, “Being a member of CEFCU means knowing you are working with a financial institution that puts your best interests first. We are owned by our members…It also means being part of a bigger community and knowing that the business that you do with us not only helps you, but it helps your community…The extraordinary dividend is given back to our members. It’s not paid out to shareholders, it doesn’t go to Wall Street.”
That video can be seen here: https://www.cefcu.com/promos/dividend