SUMTER, S.C.–The $1-billion SAFE FCU has announced it is paying a year-end bonus and interest rebates of more than $1 million.
The credit union noted that the payments were based on members’ account usage. Deposit accounts, including certificates, received a 12% bonus based on dividends received in 2017. Loan accounts (excluding credit cards) received a 3% rebate based on total interest paid in 2017.
SAFE reported it has paid more than $30 million in bonus dividends and interest rebates to its members over the last 20 years.
“The unique structure and philosophy of credit unions makes it possible for our board of directors to declare year-end bonus returns,” said Darrell Merkel, CEO of SAFE Federal Credit Union. “It’s one more way that we put members first in all that we do.”