With the economic blight in Michigan, as elsewhere, now top ofmind, a Battle Creek credit union, the $240 million OMNI Community,is using the year-end special dividend as a way to promote its own"Economic Stimulus Package" with a Jan. 8 payout of $750,000.
The Michigan CU, one of only a handful in the state actuallyextending the dividend, has renamed the member stipend a "CashRebate" noting also it has developed what it calls a technique forpayouts based on a the "total account relationship" byincorporating loan, savings and checking balances.
"The greater the relationship the larger the rebate," promisedOMNI which said qualifying members will receive an extra .22% backon their 2009 average yearly loan and account balances. In 2008,OMNI paid out .20% or $650,000.
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