More than 7,300 members of the $137 million ACIPCO Federal Credit Union in Birmingham, Ala., will share an interest rebate/bonus dividend payment of $1.7 million on Dec. 15.
This year’s interest rate/bonus dividend is the largest ever paid out to ACIPCO members, the credit union said.
“We’re extremely fortunate to be able to offer such a large rebate with the economy in such an unstable state,” said ACIPCO FCU President/CEO Mike Harrell. “The credit union doesn’t take credit for this rebate; we owe our success to our loyal members.”
The 2012 interest rate/bonus dividend is distributed to members based on interest earned and dividends received between Jan. 1 and Sept. 30, 2012. The rebate will be deposited into members’ accounts by Dec. 15.
APICO FCU has been able to offer members a rebate since 1993. Over that 20-year span, the credit union said, it has paid out more than $25 million to members.