STERLING, Colo.–Sterling and Fort Morgan FCU has announced a bonus dividend and loan interest refund for its members.
Calling the payments “one of the most often overlooked benefits of credit union membership,” the credit union said in a statement on its website that such payments are “a direct result of members cooperatively and collectively saving and borrowing together.”
The credit union said it has been paying the benefits for more than 40 years.
Sterling FCU declared a 7% loan interest refund and a half-percentage point bonus dividend. According to SFCU, the effective dividend rate for the fourth quarter 2019 was 1.25%.
The $165-million Sterling FCU has approximately 9,100 members.