Ascend Federal Credit Union in Tullahoma, Tenn., will issue $6.5 million in annual bonus dividends and loan interest refunds to members.
The credit union said in a press release Tuesday that the 2016 return will appear on members' December statements. The credit union has more than 170,000 members.
For the past 12 years, Ascend Federal's members have received more than $66 million bonus dividend and loan interest refunds. The credit union this year is celebrating 65 years in business.
"This year's return is our board's way of thanking members for 65 years of loyalty," Caren Gabriel, president of Ascend Federal, said in the release. "We would not be celebrating our sixty-fifth year of business, or our twelfth consecutive return, without our members."
Gabriel added that the member return is never guaranteed but it is something the credit union's board strives for each year.
The $1.9 billion-asset credit union opened at Arnold Air Force Base in Tennessee in 1951.
