Ascend Federal Credit Union, a $1.8-billion institution based in Tullahoma, Tenn., said it has issued bonus dividends and loan interest refunds totaling more than $6 million.
Ascend noted that the giveback this year was structured a little differently from past years since the credit union added a $25 bonus for members who were registered for electronic statements. In addition, members with higher savings received a larger bonus dividend, while those members who had more loans received a larger loan interest refund.
Over the past eleven years, Ascend has handed out more than $60 million to its members.
"After acquiring the naming rights to Nashville's new amphitheater, reworking our entire website, planning more convenient financial centers for members, being named 'Federal Credit Union of the Year' by the National Association of Federal Credit Unions and so much more this year, people want to know the secret of our success," said Ascend president and CEO Caren Gabriel said. "It's simple: We are successful because of our members, and for 11 years, our board has voted to share that success with Ascend's member-owners."
