TULSA, Okla.–TTCU Federal Credit Union said it paid out $3.7-million in member rewards dividends during 2021, an increase of 5% over 2020.
“The most significant factor that led to the increase in member rewards payments was the strong deposit growth that continued in 2021,” said EVP/CFO Shelly Beil.
The $2.5-billion TTCU reported member deposits hit the $2 billion mark, which it called a “significant milestone.”
In addition, TTCU said another factor in the increased deposits was member use of the new round-up savings account, LevelUp. More than 4,300 members took advantage of this high-interest savings account, leading to increased savings account balances.
Growth in checking and use of online services also contributed to the member reward growth, the credit union said.
TTCU reported it pays dividends to qualifying members quarterly. To be entitled to the dividend, members must have an active checking account, among other requirements.
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