Dearborn, Mich. — For the second year, the $2 billion DFCU Federal Credit Union will distribute a patronage dividend of $17 million to the credit union's members.

In an announcement of the dividend DFCU called it the “largest in the history of credit unions.” Every member will get at least $50 and some, depending on how many credit union products and services they use, will receive thousands of dollars, the CU said.

DFCU CEO Mark Shobe said the CU offered the dividend as a way to thank its members.

“For the past seven years, we've worked hard to become an efficient, healthy and well-capitalized credit union so that we are able to give back and help our members in many ways–more branches, investment advisory services, free budget and credit counseling, our no-payment/no-interest loans for displaced workers, and the special dividend.”

Shobe did not bring up the credit union's failed 2005 attempt to change to a bank charter. The credit union withdrew its application for charter change after outcry among its members and then endured a series of bruising court battles in the wake of the fight.