KINGSPORT, Tenn.–Eastman Credit Union here announced its extraordinary dividend will be a record $12 million this year.
It will be paid in January, and will mark 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.
"Over the past several years, ECU has announced several record-breaking extraordinary dividend payouts," said Olan Jones, the credit union’s CEO. "We owe it all to our loyal members, dedicated staff, and volunteer board of directors."
The bonus dividend is paid to members based on their loyalty to the credit union and is based on interest earned on deposits and paid on loans over the course of the year.
All deposit and loan accounts including certificates of deposit, checking accounts, credit cards, auto loans and mortgages count toward the extraordinary dividend members receive.