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News Now

CU System
End of the year brings spurt of dividends payouts
MADISON, Wis. (12/28/12)--Several U.S. credit unions nationwide have paid out end-of-the-year dividends to their members.

They include:

  • Navy Army Community CU in Corpus Christi, Texas, with $1.49 billion in assets, announced a 12% bonus dividend, which equates to 2012 dividends paid to date--excluding Liberty Checking dividends--multiplied by 12%.
  • Guardian CU in Montgomery, Ala., gave back more than $800,000 in the form of interest rebates and dividend bonuses. The $226 million asset credit union said roughly 23,000 members received money back in early December, with one individual receiving more than $3,300.
  • Birmingham, Ala.-based Acipco FCU, with $136.7 million in assets, said it paid $1.7 million in bonus dividends and interest rebates to it 7,300 members. That comes to an average payout of $232 per member.
  • DFCU Financial in Dearborn, Mich., announced a $21 million "Special Patronage Dividend"--the same as last year's payout. That marks the seventh consecutive year that the $3.3 billion asset credit union has paid the dividend.
  • Eastman CU, a $2.63 billion asset credit union based in Kingsport, Tenn., reported it paid a $5 million "extraordinary dividend," up from $4 million in 2010. This year marks the 16th consecutive year the dividend has been paid to members.
  • Emergency Responders CU, with $16 million in assets and based in Winston-Salem, N.C., will return a 5% interest rebate to current members who paid interest on loans in calendar year 2012, with the rebate posted in their savings account.
  • MECU of Baltimore members received loan interest rebates on Dec. 5 totaling $1.14 million or 6.25% of the interest paid between July1 and Nov. 30.  On Monday, MECU will pay its members extraordinary dividends for the period of July 1 to Dec. 31. MECU has paid its members a cash bonus every year since 1981. For all of 2012, MECU will have returned $4.25 million to its members.
  • Scott CU, in Edwardsville, Ill., is giving more than $1.2 million back to active members in the form of a 3% Annual Percentage Yield Bonus Dividend and a 3% Loan Interest Rebate this month. The dividend and rebate were credited to members' savings accounts.
  • Utilities Employees CU in Wyomissing, Pa., a virtual credit union serving the U.S. utility and energy industry nationwide, will distribute a membership loyalty bonus of nearly $1 million to its nationwide membership at the end of the year.
  • K.C. Police, CU, Kansas City, with $100 million in assets, will pay a dividend--the first in its 78-year history--to members on Monday. It will distribute $200,000, with members receiving 7% of the sum of the interest they've paid on loans and interest earned on deposits.
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