Alaska CUs Awash InLiquidity

FAIRBANKS, Alaska - (10/13/05) -- The state's credit unions and bankswere flooded with new deposits Wednesday as the state paid out itsannual permanent fund dividend checks from oil revenues. The statetransferred more than $372 million into credit unions and banksWednesday, as residents who chose to have their annual checksdirect-deposited--about 450,000 recipients--got this year payout of$845.76. Much of those funds went directly into the state's 12credit unions. The remaining 150,000 residents who did not gettheir checks directly deposited will receive them by mail laterthis month. The only requirement for receiving a check is to be aresident of Alaska for at least a year.