Credit Union 24 said it will distribute $1.1 million in patronage to member credit unions this year.

The distribution will take place in the third quarter of this year, the ATM and POS CUSO said.

“We are pleased that the board of directors declared this patronage dividend to further assist our shareholding credit unions' bottom line,” said Jim Park, president/CEO of Credit Union 24 in Tallahassee, Fla. 

“The dividend is a reflection of the positive year that our network experienced last year and illustrates our network's commitment to maximizing return for our shareholding credit unions,” Park said.

More than $15 million has been disbursed to shareholding participants since the group was organized in 1998.  CU24's website said it now has more than 450 credit unions in its network.

In addition to patronage dividends, shareholding credit unions also have a voice in the network's structure as well as important EFT issues. 

“There is legislation being debated that could have a negative impact on credit unions,” said Park. “Credit Union 24 gives our credit union participants a collective voice in the EFT arena.”