SUMTER, S.C.– SAFE Federal Credit Union said it has paid out annual bonus dividends and interest rebates to members totaling nearly $1.5 million.
The 2021 bonus marked the 25th anniversary of SAFE’s Member Giveback Program. Since the program’s inception, the credit union said it has paid its members more than $34 million in bonus dividends and interest rebates.
“The Giveback Program is a way for us to show our appreciation and a tradition we’ve been proud to keep for a quarter century,” said President and CEO Michael Baker. “Thanks to our members’ support, 2021 was another very successful one for SAFE and we are happy to share our success directly with our members.”
SAFE FCU said payments were calculated based on members’ account usage. Deposit accounts were given an 8% bonus based on dividends collected in 2021. Loan accounts received a 3% rebate based on total interest paid in 2021.
The $1.5-billion SAFE FCU has more than 126,000 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
- Fort Bragg FCU, which as paid out $1 million in Loyalty Dividends to 21,800 qualifying members.