Six more credit unions have announced $29 million in special dividends in December, including $12 million from American Airlines Federal Credit Union of Fort Worth, Texas.

NCUA data showed the six credit unions encompassed $32 billion in assets and 1.5 million members as of Sept. 30. They are paying members $29.4 million in December and January as special dividends. The amount represents about $20 per member and 9 basis points of their 0.66% return on average assets (ROA) for the 12 months ending Sept. 30.

The top special dividend was American Airlines FCU’s $12 million paid in December as a Bonus Dividend. The amount represents about $33 per member and 14 bps of its ROA of 0.37% for the 12 months ending Sept. 30.

President/CEO Gail Enda said that American Airlines FCU’s board doesn’t guarantee a bonus dividend, but designs it to reward members based on their involvement in the credit union.

“When members ask if it's possible to increase the amount of their Bonus Dividend, I tell them to take advantage of as many of the financial solutions we offer as possible,” she said. “These products not only add value to your life, they can also literally pay off in the end.”

This year’s Bonus Dividend brought American Airlines FCU’s total close to $215 million since 1998.

The other five credit unions announcing special dividends were:

  • Cedar Point Federal Credit Union of Lexington Park, Md. ($853 million, 46,980 members), which paid members $810,000 Dec. 10 as an Extraordinary Dividend. The amount represents about $18 per member and 10 bps of its ROA of 0.75% for the 12 months ending Sept. 30.
  • Fort Bragg Federal Credit Union (fka: Fort Liberty FCU) of Fayetteville, N.C. ($663.9 million in assets, 36,381 members), which is paying members $1.5 million in December as a Loyalty Dividend. The amount represents about $41 per member and 23 bps of its ROA of 1.02% for the 12 months ending Sept. 30.
  • Goldenwest Federal Credit Union of Ogden, Utah ($3.9 billion, 206,499 members), which is paying members $4 million Dec. 31 as a Golden Rewards Loyalty Bonus. The amount represents about $21 per member and 12 bps of its ROA of 1.5% for the 12 months ending Sept. 30.
  • Summit Credit Union of Madison, Wis. ($8 billion, 273,364 members), which paid members $2.8 million early this month as a Cash Boomerang. The amount represents about $11 per member and 4 bps of its ROA of 0.73% for the 12 months ending Sept. 30.
  • Wright-Patt Credit Union of Dayton, Ohio ($9.4 billion in assets, 530,264 members), which is paying members $8.3 million Jan. 13 as a Special Patronage Dividend. The amount represents about $16 per member and 10 bps of its ROA of 0.7% for the 12 months ending Sept. 30.
So far this season, CU Times has tallied 11 credit unions ($52.7 billion, 2.6 million members), which have announced $118.2 million in special dividends. The amount represents about $46 per member and 23 bps of their 12-month ROA of 0.81%.

Credit unions interested in sharing their special dividend announcements can email them to JDuPlessis@cutimes.com.

NOT FOR REPRINT

© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.