The $450 million Mazuma Credit Union of Kansas City, Mo. paid members a bonus dividend of more than $930,000 on Dec. 31, marking the end of its most successful year in its history, the credit union announced.
Members received 4% of the interest earned on qualifying share deposit accounts and 4% of the interest paid on qualifying loans throughout 2011, the CU said.
“Credit unions are about giving back to members,” said Brandon Michaels, president/CEO for Mazuma CU. “This special dividend is one way for the board of directors to say ‘thank you’ to all of our members who have helped make this a truly special year. In these tough economic times, you can always count on Mazuma to be there for our members. On behalf of the board of directors and the entire Mazuma team, this is our gift to our members.”
Mazuma CU was established in 1948 and serves more than 52,000 members living or working in Cass, Clay and Jackson counties in Missouri.