Members of the Credit Union Association of New Mexico are getting a 20% rebate on their 2009 dues.
In a statement, the CUANM leadership said the trade group holds a positive balance sheet and is able now to return the fees considering "the role of the association is to know when it is time to give back" to the membership.
"Associations such as ours were built to support the credit union world and that means more than just collecting dues," said William Jacobs, chairman of CUANM and president/CEO of White Sands FCU.
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The rebate, said CUANM, is calculated from CUANM's remaining adjusted net income for 2009 and "equals about 20% of the credit unions' normal dues."
"This rebate represents years of hard work that put us in the financial position to accomplish this," Jacobs concluded.
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