For the first time in its 54-year history, AEDC FCU will pay a bonus dividend and loan interest refund to members. The credit union will pay a bonus dividend equal to 6.25% of a member's total year-to-date dividends, including IRA dividends, and it will also pay a loan interest refund equal to 6.25% of a member's total year-to-date interest paid on all loans through Sept. 30.
"The total payout will be approximately $2 million and will be distributed according to each Member's relationship with the credit union," AEDC FCU CEO Caren Gabriel said. "Basically, we are rewarding members' loyalty to their credit union."
The total amount each member will receive is directly based on his loan and savings relationship with the credit union. The more savings a member has, the higher his bonus dividend will be, and the more loans he has, the greater his loan interest refund. The payout will coincide with International Credit Union Day on Oct. 20.
