PHOENIX, Ariz. – Arizona Federal Credit Union will issue the largest payout to members in its 65-year history – $2 million. "Our members have continued to show strong support of the credit union by their use of our services throughout the year," said AFCU President/CEO Ron Westad. "While we always return our earnings to our members in the form of low or no fees, reduced interest rates and higher savings returns, the volunteers on our Board of Directors thought it appropriate to make a special payment at this time when many in our community may need it most." For the third consecutive year members have received a loan interest rebate. The loan interest rebate represents 2% of the interest paid on qualified loans during 2001, while the bonus dividend equals 3.5% of total dividends earned by members throughout the year. Both will be deposited to members' accounts at the close of business on Dec. 31, 2001.
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