KINGSPORT, Penn.— Eastman Credit Union said it will pay a $15 million extraordinary dividend to members in early 2022. Since the credit union made its first such payout in 1998, Eastman CU has paid out $162 million in such dividends.
The extraordinary dividend will be deposited into accounts in January and is based on the amount of interest ECU members have earned on deposits and paid on loans throughout the year.
“ECU’s extraordinary dividend demonstrates our commitment to giving our members the absolute best financial experience,” said President/CEO Kelly Price. “The longevity of this payout is indicative of our financial safety and soundness and that ECU’s member first focus is unwavering.”
The $7.06-billion ECU has more than 280,000 members. Its field of membership covers much of Northeast Tennessee, Southwest Virginia, and Gregg and Harrison Counties in Texas.
Other CU Payouts
Other credit unions announcing year-end dividends to date include:
- Goldenwest CU, which is paying out $2.2 million
- Western Division Credit Unions, which paid out more than $1 million
- Educators Credit Union (Wisconsin), which paid out $4.9 million
- Tyndall FCU, which returned more than $10 million to members
- Ascend FCU, which paid out $7 million