Gulf Winds Federal Credit Union of Pensacola, Fla., has paid a bonus dividend of more than $1 million to members with share accounts, the credit union announced.
Chris Rutledge, president/CEO for the $400 million credit union, said he views the dividend as a means to stimulate the local economy.
“Any way you look at it, putting this $1 million bonus dividend back into the community will have a very positive effect on our members and the local economy. Most of this money will be spent right here and will impact the communities we serve,” Rutledge said.
“Despite the economic struggles around us, Gulf Winds continues to be a safe, sound and secure financial institution,” he added. “During a time when other financial institutions have been forced to make drastic cuts, increase and add fees and close their doors, Gulf Winds continues to focus on how we can best benefit our members.”
Gulf Winds FCU serves more than 46,000 members in Escambia and Santa Rosa counties in Florida and Escambia County, Alabama.