Bar chart showing a recession in the shadow of the coronavirus Source: Shutterstock.

PSCU said costs related to the COVID-19 pandemic led it to pay a smaller dividend for 2021, but the St. Petersburg, Fla., payments CUSO shared a larger portion in cash to its member credit unions.

The total annual dividend for the 12 months ending Sept. 30, 2021, was $17.8 million, or 1.7% of its average assets of $1.08 billion. For fiscal year 2020, which included the first six months of the pandemic, it paid $37.4 million, or 4.5% of average assets, which was the highest since it paid $38.9 million in fiscal year 2013.

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Jim DuPlessis

A journalist for decades.

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