PALM COAST, Fla.–Credit union members around the country received nearly $260-milion in year-end payouts, bonuses and interest rate refunds for 2022, according to data tracked by CUToday.info.
CUToday.info tracked only those payouts that were specifically tied to year-end, and not payouts announced on a quarterly basis during the year, for example. This publication also acknowledges that many CU say they don’t pay a year-end bonus or refund because they instead try to price their products and services as favorably as they can during the year.
For year-end 2022, CUToday.info reported a total of $259,995,772.57 in bonus dividends, loan interest rebates and more. Those included:
- In Warner Robins, Ga., Robins Financial Credit Union has distributed $18 million in rebates to members, the fifth straight year the special payout has been made. Over that time, Robins Financial said it has returned to members more than $73 million to members.
- In Ogden, Utah, Goldenwest Credit Union paid out more than $3.75 million with its 2022 year-end bonus dividend.
- Wright-Patt Credit Union said it is paying an $11 Million Special Patronage Dividend this year, the largest in its history. The individual payouts are dependent upon relationships with the CU, with WPCU saying members can earn $15 just by having a debit card, using online or mobile banking, or having e-statements.
- In North Carolina, Fort Bragg FCU said it is paying $1 million to members as part of a “Loyalty Dividend,” bringing to $3.775 million the total it has paid out over the last five years. Payouts are based on deposit and loan relationships with the credit union, with some members receiving up to $500, FBFCU said.
- In Peoria, Ill., a $20-million Extraordinary Dividend is being paid out by CEFCU. Over the last 21 years, CEFCU said it has returned $380 million in Extraordinary Dividends to members.
- In Tennessee, Eastman Credit Union members will share in a $15 million Extraordinary Dividend. The payout will bring the total it has paid out since 1998 to $177 million returned to members since it began in 1998. We are excited to return this money to our members. This announcement is a direct result of our members’ loyalty, our employees' hard work, and our board's leadership," said Kelly Price, ECU's president and CEO.
- Empower CU in Syracuse, N.Y. is paying out a $4.5 million member giveback.
- In Philadelphia, Police and Fire FCU, which announced it returned $22-million to its members as part of its Member Bonus program during 2022.
- In California, Firefighters First CU said it paid out $2.1 million in “profit-sharing proceeds” to its nearly 60,000 members.
- In Illinois, the $1.7 billion Scott Credit Union paid its members a bonus dividend and loan interest rebate totaling $1 million.
- In Antigo, Wis., CoVantage Credit Union has paid out a $5-million Patronage Dividend to its members.
- In Sumpter, S.C., SAFE FCU paid $2.16 million to members
- In Pennsylvania, the $167.4-million Top Tier FCU is paying out $350,000 to eligible members this month.
- In Niagara Falls, N.Y., the $262-million Niagara’s Choice FCU said it is paying out $193,000 to its more than 24,000 members in the form of a bonus dividend and loan interest rebate.
- In Washington, PAHO/WHO FCU Paid a bonus dividend of more than $350,000
- In Texas, the $150-million Space City Credit Union has announced it is returning $175,000 to members.
- In Phoenix, Desert Financial Credit Union said it is paying out $16 million as part of its Member Giveback Bonus
- In Connecticut, Charter Oak FCU has awarded more than $815,000 in annual $100 cash bonuses to its Gold Rewards members
- In Kansas, the $391-million Skyward Credit Union has paid out a $300,000 bonus dividend.
- In Lenexa, Kan., CommunityAmerica reported it is returning a record-breaking $9.5 million back to its members through the CU’s Profit Payout program.
- In Nevada, Elko Federal Credit Union (EFCU) has announced a $500,000 bonus dividend and “community impact commitment.” The one-time bonus dividend consists of a $250,000 loan interest refund to EFCU’s borrowers, as well as a $50 per share dividend payment to its Moola Moola and Student Share Accounts, regardless of account balance.
- In Texas, evolve FCU said it is returning $1.75 million to members via a patronage dividend.
- In Jay, Maine, OTIS FCU said it has paid out a 5% bonus dividend and interest refund on to members, resulting in a total of $277,759.57 returned for the year 2022
- ESL FCU in Rochester, N.Y. paid $25 million to members as part of its Owner’s Dividend program.
- In Albuquerque, N.M., Nusenda Credit Union paid out $7.8 million in “Earn Your Return” bonus dividends and business debit card rewards.
- OMNI Credit Union in Battle Creek, Mich. paid $1.8 million to members as part of its “Cashback Rebate” program.
- Valley Credit Union in Salem, Ore. returned an “Ownership Dividend” of $228,000.
- 4 More CUs Announce Bonus Dividends, Loan Interest Rebates; Total Tops $225 Million as Tracked by CUToday.info
- In Texas, American Airlines has paid out a more than $10 million bonus dividend for 2022. The credit union said the total paid to each member is calculated based on dividends earned on qualifying share accounts and/or interest paid on auto loans, credit cards, mortgages, personal loans or student loans. In addition, there’s a multi-product $25 bonus for participation in a number of product categories, AAFCU explained on its website.
- In Phoenix, Arizona Financial Credit Union distributed a $6 million year-end bonus to members as part of the credit union’s Member Bonus Payout program.
- In Sylacauga, Ala., Heritage South Credit Union paid a 5% bonus dividend on interest earned and interest paid. In total, almost $250,000 will be paid out to HSCU members, the credit union said.
- In Louisville, Ky., calling it “one of the most impactful differences between credit unions and banks--the way in which they are structured,” Advanz Credit Union that totaled $75,013, or $8.75 a member.
- In Oklahoma, TTCU FCU said it is paying out $3.9 million in member rewards dividends were paid out to TTCU members in 2022, an increase of 7% over the previous year.
- In Las Vegas, the $1.1-billion Clark County CU has paid out $2.6 million as part of its Bonus Dividend program.
- In Washington, Bank Fund Staff CU announced for funds for its members, paying out $3 million in the form of a supplemental dividend. The $6.5-billion credit union noted in announcing the payment that it marked its 75th anniversary last year.
- In Utah, American United Credit Union has paid out $380,000 to members in the form of reward dividends. “Based on your relationship with American United and the products and services you use throughout the year, we offer a special end of year dividend to our members,” the credit union said on its website.
- In Fort Atkinson, Wis., $300,000 was paid out to members of Fort Community Credit Union in the form of a patronage dividend.
- In Georgia, the $20-million Rome Kraft Employees CU paid members a bonus dividend of approximately $80,000.
- In South Carolina, the $4-billion Founders FCU used a commercial during the Super Bowl to announce it was returning $20 Million to its members in the form of what it called a “Super Loyalty Bonus Dividend.”
- In North Carolina, Coastal Credit Union announced it has paid out nearly $4 million in special dividends to eligible members through its Loyalty Bonus program.
- Panama City, Fla.-based Tyndall FCU, which paid out $13.7 million to more than 70,000 qualifying members.
- Tullahoma, Tenn.-based Ascend Federal Credit Union, which is returning $5 million to members in the form of bonus dividend payments, loan interest refunds and reward payments for loyal debit card use.
- Racine Wis.–based Educators Credit Union, which returned a record $5.1 million with its 2022 “Member Loyalty” payout.
- Midland, Mich.-based Dow Credit Union has announced a Member Giveback for 2022 of $14 million.
- In Indiana Beacon Credit Union has announced a $1.8-million bonus dividend to members.
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