FORT WORTH, Texas—Two more credit unions have announced year-end bonuses for members, including a $10 million payout from American Airlines Federal Credit Union.
The credit union, noting it wanted to recognize its most active and loyal members, said a $30 "Superbonus" will be distributed to members who maintained two or more account categories, in addition to primary share and IRA accounts. The "Superbonus" categories include a checking account, credit card, any vehicle, home, or personal loan on which interest was paid, and any qualifying CD on which dividends were earned during 2007. In addition, a bonus dividend will be based on dividends earned on qualifying share accounts and/or interest paid on qualifying loans in 2007. The savings portion of the dividend will be 2.9% of eligible 2007 share dividends earned; the same amount will be paid on the loan portion of qualifying loan interest paid in 2007.
In Albuquerque, N.M, meanwhile, New Mexico Educators is paying a year-end bonus to members of the $1.4 million credit union. The bonus dividend will be based on dividends earned on their deposit account(s) and an interest rebate will be paid to members who paid interest on their loan account(s) during 2007. It is the third consecutive year the credit union has paid the bonus.
