Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Michigans largest CU gives 17 million dividend
DEARBORN, Mich. (10/31/08)--DFCU Financial FCU’s board of directors approved a $17 million dividend to be distributed the first week of January. The dividend is the largest in the history of credit unions, according to DFCU Financial. The minimum dividend eligible members will receive is $50. During the past three years, members had received more than $50, which is a considerable amount considering the difficult economic climate in Michigan, said the $1.991 billion asset, Dearborn, Mich.-based credit union. The special patronage dividend is a way for DFCU Financial to thank members, said Mark Shobe, DFCU president/CEO. “For the past seven years, we’ve worked hard to become an efficient, healthy and well-capitalized credit union so that we are able to give back and help our members in many ways--more branches, investment advisory services, free budget and credit counseling, our no-payment/no-interest loans for workers and the special dividend,” Shobe said. Roughly 133,000 people--125,000 who are Michigan residents--are scheduled to receive the dividend.
Other Resources

RSS print
News Now LiveWire
NCUA re-schedules start of tomorrow's closed meeting to 9 a.m. ET. Open meeting still at 10 a.m. ET.
11 hours ago
.@lisamurkowski @SenatorEnzi @SenJohnBarrasso are latest to weigh in on NCUA risk-based capital proposal. See #NewsNow tomorrow for more
11 hours ago
Now up on News Now: Fed stays course on taper, interest rates http://t.co/6DntsW58vA
13 hours ago
Positive performance indicators and the potential for rising interest rates in @TheNCUA 's latest economic update. http://t.co/yptPbIGvnU
16 hours ago
The @CFPB has launched a nationwide effort to provide financial education. http://t.co/sF3FXHpv3k
17 hours ago