CU24 Pays $1 Million Dividend
The 280 shareholding credit unions of CU24, a nationwide, credit-union owned POS and EFT network, will get their share of a $1 million patronage dividend, the company announced Aug. 25.
“The board of directors declared this patronage in accordance with our mission to help our credit unions compete and improve their members’ lives,” said Mansel Guerry, president/CEO of CU24 in Tallahassee, Fla. “The dividend is reflective of the company's positive financial performance and the value of participation for credit unions of all sizes.”
The network said it has disbursed more than $17.5 million to credit union shareholders since its inception.
Guerry also emphasized this year's dividend in the context of other organizational changes the network has been making to try to help credit unions compete in a number of different areas.
“Now, more than ever, it is important for credit unions to be part of a credit union-owned organization,” Guerry said. “(An) organization that focuses on credit union interests as opposed to maximizing its own earnings.”