CHICAGO–Credit unions across the United States have now returned more than $114 million to their members as part of bonus dividends and loan interest refunds based on their relationships during 2016.
In total, $114,234,576 has been returned to the owners of credit unions, according to the newest analysis by CUToday.info of news it has reported related to bonus dividends and loan interest refunds. The credit union bonuses CUToday.info has reported to date can be found below. If you paid a bonus dividend/loan interest refund that is not included here, send the news to Frank J. Diekmann at Frank@CUToday.info
BALTIMORE—Municipal Employees Credit Union of Baltimore reported it returned $2.5 million in cash bonuses to its members in 2016. The bonuses, which members received in the form of loan interest rebates and bonus interest dividends, were made possible by the credit union’s strong financial performance.
BURBANK, Calif.–Logix FCU said it is paying a $3-million “relationship dividend” to its 47,000 members. The Relationship Dividend was based on the combined deposit and loan balances each member had with Logix in the month of December, according to the $4.7-billion credit union.
COLORADO SPRINGS, Colo.–Ent Credit Union said it has paid its members more than $3.8 million dollars in loan rebates as part of its 2016 Ent Extras loan benefit program.
HUNT VALLEY, Md.– Atlantic Financial Federal Credit Union is paying its members a 2016 year-end dividend bonus/loan interest refund. AFFCU said it is returning 25% of 2016 net income to members in the form of a 2.5% bonus on dividends earned and a 2.5% rebate on interest paid on AFFCU loans. In all, $90,000 is being returned to members.
DES MOINES, Iowa—For the second year in a row, Affinity Credit Union paid a loyalty dividend to members. The credit union said it returned $150,000 to members as a result of the CU’s positive financial performance.
EDWARDSVILLE, Ill.—Scott Credit Union here has declared a bonus dividend and loan interest rebate and is paying nearly $1.5 million back to members.
Scott Credit Union said it has given active members an additional 3.00% APY bonus dividend on their deposits and a rebate of 3.00% of the interest they paid this year on any loan or credit card to thank them for their loyalty.
KINGSPORT, Tenn.–Eastman Credit Union here announced its Extraordinary Dividend will be a record $12 million this year. It marks the 19th consecutive year the credit union has made the payment to embers, and brings the total of dividends paid to $92 million since 1998.
ALBUQUERQUE, N.M.–Sandia Laboratory FCU has announced a $10-million dividend. The $2.32-billion CU said it paid the special dividend to members based on dividends members had already earned on deposit accounts over the past 12 months.
LANCASTER, S.C.–Founders FCU paid members a $4.5-million bonus dividend/loan rebate. The credit union’s 117,000 members received a bonus based on the amount of interest they have paid on loans or dividends earned on deposits since Jan. 1. The $4-billion Founders FCU has now paid the Loyalty Dividend for four consecutive years, and over 24 years has paid out more than $50 million, it said.
OGDEN, Utah–Goldenwest FCU paid members a $1.4-million annual bonus dividend. The one-time dividend was based on a 4.15% APY being applied to member’s average daily balance of shares during 2016. The $1.2-billion CU said over 13 years it has returned $9.4 million to members through the bonus dividend program.
HANSCOM AFB, Mass.–Hanscom FCU here paid a Loyalty Dividend that includes returning 2% of most member loan finance charges as well as 2% of dividends earned on savings. This is the 20th consecutive year Hanscom FCU said it has paid such dividends, returning more than $8 million directly to its members since 1996.
WATERFORD, Conn.–Charter Oak Federal Credit Union said it has awarded more than $487,000 in annual $100 cash bonuses to its Gold Rewards members, which is the largest one-time bonus payout in the program’s history.
Since 2010, when the unique member-appreciation began, Charter Oak said it has paid out more than $2.5 million to its Gold Rewards members.
MADISON, Wis. — Summit Credit Union here has declared a $1.9-million dividend to more than 46,000 of its members as part of a program it calls “Cash Boomerang.” The credit union said individual member cash payouts were based on the financial success of the credit union as well as how much the member saved and borrowed between Oct. 1, 2015, and Sept. 30, 2016.
DEARBORN, Mich.–DFCU Financial Credit Union paid a $27.3-million bonus to members as part of its “Cash Back” program.
DENTON, Texas — DATCU Credit Union announced it has paid out the largest year-end bonus dividend in its history. The $865-million credit union has returned $3,463,866 to members. This is the eighth consecutive year DATCU has paid a bonus dividend. In the last eight years, DATCU has distributed over $9.5 million dollars back to its members. According to the credit union, qualified members received a one-half percent (0.50%) dividend based upon a member’s average daily balance during 2016, all balances combined, for the entire year.
HARRISBURG, Penn.–Pennsylvania State Employees Credit Union paid a $10-million “Relationship Reward” to its members. Since launch of the program in 2013 it has returned $52.5 million to participants.
MIDLAND, Mich., Dow Chemical Employees’ Credit Union has announced what it is calling the largest Member Giveback in its history – more than $15 million in rebates and rewards. For 2016, DCECU said it has given back 75% of the interest members in good standing paid on their eligible loans over the course of the year and gave them a cash reward equal to 75% of the interest they earned on their savings. Members in good standing also received rebates on their Visa Debit Card transactions.
GREENSBORO, N.C.—Members of Premier Federal Credit Union were returned 5% of their interest paid in 2016 on eligible loans as part of the credit union’s annual give-back. More than 9,400 members received a portion of the $260,710 given back through a deposit to their savings account.
SUMTER, S.C.–SAFE FCU paid its members $1 million in bonuses and loan interest rebates. Deposit accounts, including certificates, received a 10% bonus based on dividends received in 2016. Loan accounts (except credit cards) received a 4% rebate based on total interest paid in 2016. The $1-billion SAFE has paid bonus dividends and loan interest rebates annually for the past 21 years.
FORT ATKINSON, Wis., Fort Community Credit Union has announced it has paid out its second annual Member Loyalty Cash. It did not provide a specific figure for 2016, but said 25.77% of its members received over $30.74 this year.
OKLAHOMA CITY, Okla.–True Sky Credit Union said it is paying year-end rebates and bonuses of $359,000. It is the 16th consecutive year the credit union has paid the bonus, and has returned more than $4 million to members to date. True Sky CU said it paid a 3% rebate to members who paid interest on loans or earned dividends during 2016.
JACKSON, Mich.–American 1 Credit Union has returned more than $1 million to members in the form of a savings dividend and a loan rebate. A 40% rebate is being paid to all members who financed a secured, closed-end loan with American 1 in 2015 or 2016. The rebate is 40% of the interest the member paid on their loan during 2016. All members with savings shares were awarded a bonus dividend of 2% APY based on their daily balances during the final quarter of 2016. In addition, members with Money Market accounts received a bonus dividend of 2% APY based on their daily balances in December 2016.
KENT, Wash.–Cascade Federal Credit Union is paying a 20% bonus dividend on interest paid to its members during 2016, as well as refunding 10% of the interest members paid on auto loans and VISA credit cards in 2016. In all, $382,000 is scheduled to be distributed to members.
HOUSTON–Space City Credit Union here is paying its first-ever bonus refund to members.
Members who paid interest on loans during 2016 received a 1% interest refund. In addition, members who had a checking account in good standing and who used the CU’s rewards program received more than $30,000 in rewards.
LENEXA, Kan.–CommunityAmerica Credit Union said it has paid a bonus dividend of $8 million to its members, or an average of nearly $100 to every member household. The latest bonus to members is $1 million more than the prior year’s payout, and marks the fifth straight year the credit union has returned at least $5 million to its members and the 21st straight year it issued a dividend.
EL PASO, Texas– For the second year in a row, evolve Federal Credit Union has returned $2 million to its members with a Patronage Dividend. More than 12,500 members received a deposit in their main share account.
JAY, Maine–Otis FCU has returned nearly $350,000 to its members in the form of a bonus dividend and interest refund. It is the 12th consecutive year the credit union has returned the funds through its “Cooperative Community Advantage Program,” returning more than $4.25 million to its members over that time.
WYOMISSING, Penn.–Utilities Employees Credit Union is paying a $592,000 Member Loyalty Bonus to members. The payout marks the sixth consecutive year the $1.1- billion UECU has returned funds to members, during which it has returned $5.3 million.
LAS VEGAS, Nev.–Clark County Credit Union is paying a $3-million bonus dividend/loan interest refund to members. This year’s dividend payment of $3,002,536.08 means a total $56 million has been returned to members since 2001, CCCU reported. All 40,000 CCCU members will receive at least $20 deposited into their accounts this month, though the average dividend payment this year is $73.74. Hundreds of members received $500 or more, with the highest single distribution coming in over $20,000, the credit union said.