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News Now

CU System
Four CUs chalk up nearly 14 M in member dividends
MADISON, Wis. (1/11/12)--Four credit unions have tallied nearly $14 million in dividend payments to members, they announced this week.

They are:

  • American Airlines FCU in Fort Worth, Texas, which announced it paid a $10 million dividend Dec. 31 to qualifying members. The $5.42 billion asset credit union's board approved the dividend payout at its board meeting Dec. 16. The bonus dividend was based on dividends earned on qualifying share accounts and/or interest paid on applicable loans. The savings portion of the dividend was calculated on share dividends earned through Nov. 30, and the additional portion of the bonus dividend amount was calculated on loan interest paid from Jan. 1 through Nov. 30, 2011.
  • Empower FCU, a $1.02 billion asset, Syracuse, N.Y.-based credit union, which announced a $2.5 million "give-back" for 2011. The credit union is paying $2.5 million in bonus dividends and interest rebates to reward Empower members for a successful year.
  • Mazuma CU in Kansas City, Mo., which paid its members a bonus dividend Dec. 31. The $454.6 million asset credit union's board approved a $930,000 dividend payout. Members received 4% of the interest earned on deposits in 2011 and 4% of the interest paid on loans in 2011.
  • Hanscom FCU, Hanscom Air Force Base, Mass., returned $567,000 to its members at the end of 201l with a loyalty dividend. The dividend represents a 2% bonus on dividends earned and consumer loan finance charges paid during the year by the $919.5 million asset credit union.


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