TULLAHOMA, Tenn. –– Credit union in two states have announced year-end bonus dividends, card rewards and more.
In Tennessee, Ascend Federal Credit Union said is returning an estimated $8.7 million to its members in bonus dividends and loan interest refunds. With the addition of this year’s return, Ascend CU said it has given back more than $85 million to members since 2004.
“On behalf of Ascend’s board of directors, we are very pleased to once again offer a return for our members,” said Ascend President and CEO Caren Gabriel in a statement. “This year, we’re asking members, ‘What will you do with your share?’ It’s a simple question with many possible answers – maybe you’ll use it to buy Christmas gifts, put it toward a vacation you’ve always wanted to take or donate it to a charity.”
Gabriel said the member return is never guaranteed, but it is something Ascend’s board strives for annually.
In general, the $2-billion Ascend CU said bonus dividends and rebates are paid based on the amount of business the member has done with the credit union.
Ascend CU has approximately 200,000 members.
Ent Pays Out $12M
Separately, in Colorado Springs, Colo., Ent Credit Union said it has paid out to members $12.3-million as part of its 2019 Ent Extras rewards program, which rewards members based on their use of the CU’s products and services.
“Along with better rates and lower fees, Ent Extras is a great example of how we help our members bank for their best life. While there are a lot of financial institutions to choose from, programs like this exemplify why more people are joining Ent,” said CEO Chad Graves. “It’s one more reason we’re now Colorado’s leading credit union.”
Ent CU said members eligible to receive an Ent Extras reward were informed of the total amount they could expect to receive in mid-November. Deposits were made to more than 340,000 members’ primary savings account(s) on Dec. 1.
“The holidays can be a bit of a financial strain. We hope that giving our engaged members their Ent Extras payout now will add to their holiday joy and reduce a little stress,” added Chief Marketing Officer Jennifer Sussman.
The $6-billion Ent CU has more than 360,000 members.