WASHINGTON–Hard times have not prevented some credit unions from ringing in the new year by giving members a special bonus dividend–a move that is helping CUs demonstrate the CU difference and their financial health.
Some credit union executives are trying to emphasize the theme of strength during the current financial crisis, touting “Main Street Values” versus those of Wall Street. “We use Main Street values to make our decisions and we’re conservatively managed,” said Doug Fecher, president of Wright-Patt CU, which is doling out a $3-million special patronage dividend.
Others are also touting the special bonuses as a CU-based economic stimulus plan. “Not only is the extraordinary dividend great news for our member-wners, but it represents a significant boost for the local economy,” said Olan Jones, president of Eastman CU, which is distributing a $4-million payout.
