PANAMA CITY, Fla.– Tyndall FCU has paid out $13.7 million to members. The payout was given to more than 70,000 qualifying members and deposited directly into their savings accounts.
Individual amounts were calculated based on participation with the credit union and ranged from $70 to $420, according to the credit union.
The $1.98-billion Tyndall FCU said it has now returned more than $40 million back to its members as profit-sharing and storm aid over the last five years. Forty-one percent of members received a Tyndall profit share in 2022 versus 2021, the CU added.
“We’re able to deliver value year after year because we don’t waste our members’ money,” said President and CEO Jim Warren. “Instead of charging excess fees, and exorbitant rates, our team is able to do this by keeping operating costs down, investing in digital channels and focusing on our member’s needs.”
Fee Waivers
As CUToday.info reported here, on Jan. 1 of this year, it began waiving more than 15 fees, including monthly service charges, minimum balance fees, money market fees, non-sufficient funds and ATM fees.
The credit union said its support for the community also includes disbursing nearly $150,000 in community grants and offering its staff 4,000 hours of community volunteer service.