The $809.3 million SAFE FederalCredit Union of Sumter, S.C., and the $585.8 million AMOCOFederal Credit Union of Texas City, Texas, have announcedrespective bonus dividend payouts of $2.5 million and $1 millionfor 2012.

|

SAFE FCU said it paid members $2.5 million in bonus dividendsand loan interest rebates on Dec. 31. Members with depositaccounts, including certificates, received a 15% bonus based ondividends they received in 2012, and members with loan accounts,with the exception of credit cards, received a 10% interest rebatebased on the total interest they were paid in 2012, the SouthCarolina credit union said.

|

The 104,000-member credit union said it has paid a bonusdividend for the past 17 years and a loan interest rebate for thepast 10 years.

|

“The unique structure and philosophy of credit unions makes itpossible for our board of directors to declare year-end bonusreturns,” said Beverly A. Gagne, president/CEO for SAFE FCU. “Weare delighted to be able to provide this 'extra return' to ourmembers, on top of the competitive rates they have received allyear.”

|

AMOCO FCU said its board of directors elected to pay memberswith accounts in good standing as of Dec. 31, 2012, a 5% bonus,based on the dividends they earned on deposits and/or the interestthey were paid on loans and credit cards in 2012.

|

The 75-year-old AMOCO FCU said it has distributed bonusdividends and loan interest refunds for 17 years in a row.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Natasha Chilingerian

Natasha Chilingerian has been immersed in the credit union industry for over a decade. She first joined CU Times in 2011 as a freelance writer, and following a two-year hiatus from 2013-2015, during which time she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union), she re-joined the CU Times team full-time as managing editor. She was promoted to executive editor in 2019. In the earlier days of her career, Chilingerian focused on news and lifestyle journalism, serving as a writer and editor for numerous regional publications in Oregon, Louisiana, South Carolina and the San Francisco Bay Area. In addition, she holds experience in marketing copywriting for companies in the finance and technology space. At CU Times, she covers People and Community news, cybersecurity, fintech partnerships, marketing, workplace culture, leadership, DEI, branch strategies, digital banking and more. She currently works remotely and splits her time between Southern California and Portland, Ore.