CEFCU Members See $7 Million Payday
PEORIA, Ill. – CEFCU paid its members a $7 million extraordinary dividend, one of the biggest of the year.
The dividend was based on members’ savings and loan activity during the year, with $3.5 million going to borrowers and $3.5 million going to savers.
The amount each member received was determined by dividends earned and interest paid during the first 11 months of the year, as of Nov. 30. On Dec. 6, dividends were deposited into members’ savings accounts.
The $4.4 billion credit union, formerly Caterpillar Employees CU, is having another successful year, with net income of $29.2 million through the first three quarters, even after a $4.9 million charge for the corporate bailout.
Over the last 11 years, CEFCU has returned $50 million in extraordinary dividends to members.