SYRACUSE, N.Y.–Two credit unions have announced bonus dividends and loan interest rebates.
In New York, Empower Federal Credit Union is paying $4 million in “giveback” funds to its savers and borrowers.
Over the past 13 years, Empower FCU has given back $39.5 million to its members.
“During these unprecedented times, we are pleased to announce the board of directors approved a $4,000,000 member giveback,” said Lori Verzillo, SVP-chief retail officer.
Going Up: Another Payout to OTIS Members
Separately, in Jay, Maine, OTIS Federal Credit Union has paid a 6% bonus dividend and interest refund to members of $347,795.58. Over the past 16 years, OTIS FCU has returned nearly $5.5 million to both its savers and borrowers via the annual practice.
"We are proud to be able to post a 6% dividend bonus and interest refund," said President/CEO Kim Turner. "The year 2020 held many unknowns as the pandemic swept through the country, impacting so many households and businesses, and to be able to give back a portion of our profits for the 16th consecutive year is profound. We thank our loyal members for their commitment to us, especially during these unprecedented times, and hope that this bonus dividend and interest refund reflects our continued commitment to our members' financial success."