Firm says Washington DC area credit union leads nation with lowest rates.
Scott CU will disperse their donation over the next five years.
Despite the frustrations that some credit unions face with building long-term, multiple product and service relationships with members who come through the door via indirect lending, the loans have continued to be a meaty portion in many portfolios.
Bonus dividend payouts are a true differentiator for credit unions as they compete against banks, and in a year when big banks made headlines for proposing unwanted fees, year-end member cash rewards carry even more weight for CUs looking to stand out in the marketplace.
The 93,000-member CU said it has paid more than $2.1 million in bonus dividends over the past 10 years.