PEORIA, Ill. — CEFCU announced it has paid members a record $12 million extraordinary dividend this year.
The dividend is based on members' savings and loan activity during 2013, with $6 million going to borrowers and $6 million to savers.
Over the last 14 years, CEFCU has returned $75 million in extraordinary dividends to members. Board Chairman Thea Robinson said, "The credit union continues to see strong financial results, and this success is due in no small part to the continued loyalty of CEFCU members."
Chief executive officer Mark Spenny explained that the year-end dividend is driven by the credit union not-for-profit business model.
"When business for a credit union is better than projected, members share in those benefits," said Spenny. "It's their money."
