BIRMINGHAM, Ala./TALLAHASSEE, Fla.—For the third year in a row, the League of Southeastern Credit Unions is rebating dues to its member CUs.
This year’s dues rebate will be 6.7%, LSCU reported, saying the giveback resulted from a strong financial year in 2014 by LSCU and LEVERAGE, the league’s service corporation.
“Through our dues rebate and patronage dividends, we have returned more than $1 million to member credit unions over the past three years,” said LSCU & Affiliates president/CEO Patrick La Pine. “Our streamlined operations, excellent educational offerings, and another good year from LEVERAGE all worked together to make this dues rebate possible. The more credit unions that participate and do business with the League and LEVERAGE directly correlates to the success of all of our member credit unions.”
“The League and LEVERAGE are always happy to be able to share their success with
member credit unions,” said LSCU/LEVERAGE Board Chairman Steve Swofford, also CEO of Alabama Credit Union in Tuscaloosa. “Not many state leagues can say they have offered a dues rebate and patronage dividend for three straight years.”
The dues rebate will paid in a paper check in April. A few restrictions apply to receive the giveback:
- Credit unions must have paid their dues in full by March 31.
- Credit unions that were not affiliated in previous years are eligible to receive a dues rebate in 2015, but dues must be paid in full by March 31.
- Any credit union granted a dues waiver or reduction in 2014 is not eligible for a dues rebate
In addition to the dues rebates that began in 2013 for Alabama and Florida credit unions, CUs that participate in LEVERAGE’s CO-OP debit card program have received an additional $300,000 in rebates since 2013, LSCU explained.