The $3 billion DFCU Financial of Dearborn, Mich. announced it will payeligible members a total of $21 million in dividends on Jan. 4.
|DFCU Financial said it is the only credit union in the nation tohave paid members an average of $18 to $20 million in dividendseach year for the past six consecutive years, for a total of morethan $110 million.
|“People are still struggling in our area so instead of raisingfees, we're putting more money in members' pockets,” DFCU FinancialPresident/CEO Mark Shobe said. “The cash payout to members is ourway to thank them for choosing DFCU Financial as their primaryfinancial institution.”
|DFCU Financial calculates payouts based on a member'srelationship level with the CU. Eligible members receive a 0.5%dividend on their average loan and deposit balances, with eacheligible member receiving at least $50, the CU said.
|Dividend recipients include approximately 70,000 members in themetropolitan Detroit area, 7,000 in the Ann Arbor area, 5,000 inGrand Rapids and 3,000 in Lansing.
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