FAYETTEVILLE, NC — Fort Bragg Federal Credit Union said it has paid out $1 million in Loyalty Dividends to 21,800 qualifying members.
The credit union said the payout marks the fourth year in a row it has returned funds to its members.
The Loyalty Dividend is based on deposit and loan relationships of members. FBFCU reported approximately 60% of its total membership received a dividend, with some receiving as much as $500.
“Our board of directors has once again authorized the payment of this special dividend to recognize our most loyal members,” said President/CEO Todd Kenthackl. “As a financial cooperative, we are able to return a portion of our credit union’s earnings to our member-owners. This sets us apart from many for-profit financial institutions. December is the perfect time of the year to give back to our most loyal members.”
The $537-million Fort Bragg FCU has approximately 38,000 members.
Other CUs Paying Bonuses, Rebates
Other credit unions that announced year-end 2021 bonuses and rebates 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
- Eastman Credit Union, which announced a $15 million extraordinary dividend
- Dow Chemical Employees’ CU, which is returning $13.6 million.
- Tyndall FCU, which is returning $11 million
- Robins Financial Credit Union, which paid out $18 million to its members in the form of a Member Rebate.
- Empower FCU, which is paying members a $4.5-million “giveback” in the form of bonus dividends and rewards rebates.
- CoVantage Credit Union, which returned $5 million in patronage dividends to members
- Gas Electric Credit Union, which said it returned $250,000 in total.
- Citizens Equity FCU (CEFCU), which returned $20 million, or approximately $54 per member.