The $4.8 billion Citizens Equity First Credit Union of Peoria, Ill., said arecord extraordinary dividend of $12 million has been distributedto its members.
|This dividend was based on members' savings and loan activityduring 2013, with $6 million going to borrowers and $6 milliongoing to savers. The amount each member received was determined bydividends earned and interest paid during the first 11 months ofthe year, the big Illinois credit union said.
|On Dec. 16, dividends were deposited to members' savingsaccounts. Over the past 14 years, CEFCU has returned $75 million in extraordinary dividends tomembers.
|“The credit union continues to see strong financial results, andthis success is due in no small part to the continued loyalty ofCEFCU member/owners,” CEFCU Board Chair Thea Robinson said in aprepared statement. “I am proud the credit union is able to extendthis dividend, the largest in the history of the credit union, tomembers.”
|CEFCU serves more than 297,000 members through 20 centralIllinois branches, including a new branch that recently opened inGermantown Hills, Ill. The full-service branch is an energyefficient building that received Leadership in Energy andEnvironmental Design certification, which means the branch wasbuilt with recycled and re-used materials and utilizes naturallighting and natural fabrics, the credit union said.
|CEFCU also operates three branches in Santa Clara County,Calif.
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