WARNER ROBINS, Ga.–Credit unions across the country continue to announce special year-end dividends and loan interest rebates.
In Georgia, Robins Financial Credit Union has distributed $18 million in rebates to members, the fifth straight year the special payout has been made. Over that time, Robins Financial said it has returned to members more than $92 million to members.
The payout was based on factors that include an active checking account, loan and deposit balances, years of membership and overall usage of Robins Financial products and services.
"We are committed to helping ease the financial stresses of our members,” said Christina O’Brien, president & CEO of Robins Financial Credit Union. “Our Member Rebate allows us to do just that. As trusted financial partners, weare here to help our members afford life. We could not be more grateful for our members’ continued trust in our credit union.”
‘Key Benefit’
In Ogden, Utah, Goldenwest Credit Union is paying out more than $3.75 million with its 2022 year-end bonus dividend.
“The Bonus Dividend program is a key benefit of Goldenwest membership,” said Chairman Dan Musgrave. “We are grateful for our loyal members who make it possible to continue this 19-year tradition.”
The one-time dividend of 4.40% APY will be paid on top of the stated monthly dividend of 0.05% APY the credit union said. Members will earn 4.45% APY for December on primary shares, secondary shares, Christmas Club shares, and IRA shares.
“The year-end Bonus Dividend is an annual reminder of the value of participating in our not-for-profit financial cooperative,” added Kerry Wahlen, President/CEO. “With the support of our volunteer board, we are thrilled to make a positive impact on the financial well-being of our members with the Bonus Dividend.”
The $2.7-billion Goldenwest CU has more than 172,000 members.
Other Payouts
Other bonus payouts reported by CUToday.info to date include:
- Wright-Patt Credit Union said it is paying an $11 Million Special Patronage Dividend this year, the largest in its history. The individual payouts are dependent upon relationships with the CU, with WPCU saying members can earn $15 just by having a debit card, using online or mobile banking, or having e-statements.
- In North Carolina, Fort Bragg FCU said it is paying $1 million to members as part of a “Loyalty Dividend,” bringing to $3.775 million the total it has paid out over the last five years. Payouts are based on deposit and loan relationships with the credit union, with some members receiving up to $500, FBFCU said.
- In Peoria, Ill., a $20-million Extraordinary Dividend is being paid out by CEFCU. Over the last 21 years, CEFCU said it has returned $380 million in Extraordinary Dividends to members.
- In Tennessee, Eastman Credit Union members will share in a $15 million Extraordinary Dividend. The payout will bring the total it has paid out since 1998 to $177 million returned to members since it began in 1998. We are excited to return this money to our members. This announcement is a direct result of our members’ loyalty, our employees' hard work, and our board's leadership," said Kelly Price, ECU's president and CEO.
- Panama City, Fla.-based Tyndall FCU, which paid out $13.7 million to more than 70,000 qualifying members.
- Tullahoma, Tenn.-based Ascend Federal Credit Union, which is returning $5 million to members in the form of bonus dividend payments, loan interest refunds and reward payments for loyal debit card use.
- Racine Wis.–based Educators Credit Union, which returned a record $5.1 million with its 2022 “Member Loyalty” payout.
- Midland, Mich.-based Dow Credit Union has announced a Member Giveback for 2022 of $14 million.
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