DEARBORN, Mich. — With credit unions everywhere making the most of large dividend payouts, Michigan' s largest credit union–the $1.8 billion DFCU Financial CU–used the occasion of its $17 million distribution last week to remind the public via the Internet of its special economic role and to sharpen the CU "difference with banks."
Joining in the attack on the banks was the Michigan Credit Union League, which talked up the large Dearborn Financial payout as another example of CUs' ability to give back to their members while profit-minded banks do not.
"When is the last time that a bank sent their customers a little extra after a profitable year?" asked David Adams, president/CEO of the league. "As an industry, we can tout this special dividend as the credit union difference in action. This dividend represents the hard-dollar differences between credit unions and banks."
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