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.
According to its President/CEO, Dale Kerslake, this is the third consecutive year for the 10% VISA refund, and second year for the auto loan refund. In all, $382,000 is scheduled to be distributed to members by Jan. 25.
Even before the bonus dividend, Cascade FCU said its dividends exceeded the credit union industry peer group average by 50%. Kerslake stated Cascade attained its target capital ratio of 12% earlier in 2016, and began planning the bonus dividend in July.
Cascade FCU, which is SEG-based, serves groups that include BNSF Railway, NC Machinery, Costco, and Cutter & Buck.