IRONDALE, Ala.–Corporate America Credit Union has announced that for the second time in less than a year, it will “give back” by waiving service fees and giving a bonus dividend to member credit unions that hold perpetual contributed capital.
At the end of 2018, Corporate America reported it gave members a 50-basis point bonus dividend on all Perpetual Contributed Capital accounts for the year 2018, waived December service fees, and paid FRB pass through charges that settle to members’ CACU accounts on their behalf.
“I have worked in the Credit Union industry for 26 years and this is the first time, at least that I can remember, that I have seen anything like this,” said Darryn Hodgson, CFO at Members First Credit Union in a statement. “It is so refreshing to have a business partner that is willing to make decisions like this to show their members/partners that they care.”
Corporate America is calling the program The Big Give- Back Part 2.
“We’ve had a strong first half of 2019, thanks to our amazing members and their continued support,” said Corporate America President and CEO Pete Pritts. “As a corporate credit union, our primary mission is to ease burdens so our members thrive. So, doing the ‘give back’ again was an easy decision.”
For The Big Give-Back Part 2, Corporate America said it is waiving June service fees, paying FRB pass through charges that settle to their members’ CACU accounts, and giving members a 50-basis point bonus dividend on all Perpetual Contributed Capital accounts.