DEARBORN, Mich. — In what is most likely the largest dividend ever issued in the credit union industry, members of DFCU Financial will receive their share of $17 million.
Nearly 134,000 people will receive a dividend payment; 125,000 of which are Michigan residents, the $1.8 billion CU said. The 2006 dividend was the first patronage dividend given to members in more than 20 years.
Eligible members will receive a 0.5% dividend on their 2007 average loan and deposit balances. Though the amount paid depends upon balances, each eligible member will receive at least $50, which will be deposited to members' accounts the week of Jan. 7, 2008.
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