TULLAHOMA, Tenn.-Ascend FCU plans to pay an $8-million bonus to its members, just in time for the holidays.
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The bonus return will be calculated as a percentage of total year-to-date dividends, including IRAs, and total year-to-date interest paid on all loans for the period Jan. 1 through Nov. 30. Funds will be deposited in December.
The payment was made possible by a healthy $9.5 million net for the $1.3 billion credit union through the first three quarters of the year, even after a $3 million payment for the corporate credit union bailout. This marks the second consecutive $8 million bonus to Ascend's members, and it brings the five-year total return to more than $26 million.
