FORTH WORTH, Texas – American Airlines FCU paid members a $10 million special dividend at year-end, one of the biggest member payouts for the year.
The payout by the $6 billion credit union is similar in size to last year’s bonus and is the second largest distributed by credit unions for 2011, following DFCU Financial’s $21 million.
American’s bonus 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.
To recognize the most active and loyal members, an additional $50 bonus was distributed to those who participated in three or more of the eight major account categories.
“Our ability to provide our member-owners once again with this bonus dividend is a testament to the sound lending decisions and efficient operation that have kept us secure, strong and solid,” said Angie Owens, president of the credit union giant. “And we’re always happy to provide a bonus to our most loyal members who have multiple products with us.”
