PEORIA, Ill. – CEFCU said it paid its members an extraordinary dividend of $6 million, the eighth straight year for a year-end payout.
The payout comes as the $3.6 billion credit union is finalizing a deal to acquire failed Valley CU, in San Jose, Calif., giving the credit union a footprint on the west coast.
This dividend was based on members' savings and loan activity during the year 2008, with $3 million going to borrowers and $3 million going to savers. The amount each member received was determined by dividends earned and interest paid as of November 30, 2008. Dividends were deposited to members' savings accounts on Dec. 8.
CEFCU has paid its members $33 million in extraordinary dividends since 2000.
