PEORIA, Ill.—The $7.8-billion CEFCU handed back $55 million to its members this month, the CU reported.
The extraordinary dividend is a record for the organization, and has been distributed equally among savers and borrowers in good standing.
CEFCU added that $2.75 million also went to debit card users.
The amount borrowers and savers received was calculated based on the amount of interest they earned and/or the amount of interest they paid.
Debit card users were rewarded based on transaction spend from January through October of 2024, up to a maximum spend of $4,425, the CU said.
Over the last 24 years, CEFCU has returned $500 million in extraordinary dividends to its members.
CEFCU made $48.6 million in net income in 2023 and $110.9 million through October of this year, according to the credit union. Net worth stands at 11.96%.