LOS ANGELES–Firefighters First FCU has announced a $1.5-million year-end payout to members.
Since 1981 the credit union reports it has returned $44 million to members.
“It is rare to find an organization today that shares any percentage of their profits. However, as a cooperative, this is part of our foundation,” said FFCU CEO Dixie Abramian. “While many credit unions have stopped sharing their profits, we feel strongly about giving back to our members and to helping improve the financial lives of our Fire Family. At the discretion of our board of directors, we feel it is an important part of our tradition and our members agree. The payouts vary based on member relationships – if you have a mortgage and a money market with us, your payout will be much higher than if you just had an auto loan.”
Abramian said it Firefighters First has also sought to reward members who have additional services with the credit union, such as investment accounts, insurance policies, and business loans.
“Deeper member engagement is an important growth strategy for us and we want to thank them for their business,” said Abramian. “We continue to focus on member loyalty by delivering exceptional products and services, and personable service. We know our members and go we the extra mile to exceed their expectations.”
In addition to the year-end bonus, Firefighters First has also recently moved to a federal charter and expanded into Arizona, Nevada and New Mexico.