Members of Maine State CU to Receive $500,000 Dividend
AUGUSTA, Me. - For their loyalty, members of Maine State Credit Union will soon receive a bonus dividend in their share accounts. At its recent annual meeting, Glenda Winn, outgoing chairperson of the $197 million credit union's board of directors, said a strong performance in 2004 will enable members to receive their share of a nearly $500,000 bonus dividend this year. Individual amounts will be calculated based on a percentage of the interest members earned on qualifying deposit accounts and/or interest paid on qualifying loans. The dividend will be deposited into open share accounts on April 30 for the credit union's more than 20,000 members. Normand Dubreuil, president/CEO of Maine State CU, said dividend distribution sets credit unions apart from other institutions within the financial services industry and thanked members for their loyal patronage. Chartered in 1935, the credit union serves Kennebec County here and State of Maine employees.