FORT WORTH, Texas -- For their loyalty and active participation in 2007, American Airlines Federal Credit Union awarded members their share of a $10 million dividend.
The bonus dividend was based on dividends earned on qualifying share accounts and/or interest paid on qualifying loans in 2007, according to the $4.3 billion credit union. The savings portion of the dividend will be 2.9% of eligible 2007 share dividends earned, and the loan portion of the dividend will be 2.9% of qualifying loan interest paid in 2007.
To recognize the most active and loyal members in 2007, a $30 "Superbonus" will be distributed to members who maintained two or more account categories such as a checking account, credit card, car loan, mortgage or home equity loan, a personal loan or any qualifying share certificate on which dividends were earned between Jan. 1 and Dec. 1, 2007.
"Our goal is to continue our tradition of providing value to our member-owners," said John Tippets, CEO of American Airlines FCU. "We provide value by offering low loan rates and high dividend rates, and this bonus dividend payout is another example of how we strive to enrich our members' financial well-being year-after-year."
Members were scheduled to receive their dividend on Dec. 31.
--msamaad@cutimes.com
