DFCU Financial Continues Dividend Tradition With $21 Million Payout
Qualified members of the $3 billion, Dearborn, Mich.-based DFCU Financial will receive an estimated total of $21 million in dividend payouts, equivalent to half of DFCU Financial’s annual earnings, on Jan. 4, the credit union announced this week.
DFCU Financial said this is the seventh consecutive year it has returned half of its earnings to members and that it’s the largest dividend paid by any credit union in the country. Since 2006, the credit union has returned more than $130 million to members, DFCU Financial said.
“The cash payout to members is our way to thank them for choosing DFCU Financial as their primary financial institution,” said Mark Shobe, president/CEO for DFCU Financial. “Our team works hard to operate an efficient, well-managed organization, which is the reason we can offer this unique benefit of membership.”
Individual dividend payments will be equal to 0.5% of members’ average yearly loan and deposit balances, including all savings accounts and loan balances. Each qualified member will receive at least $50, the credit union said.