RANCHO CUCAMONGA, Calif. – CO-OP Financial Services said it is paying its members a $22.2 million patronage dividend for 2009, including $12.2 million of it in cash.
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The dividend, 12% more than last year’s payout, will accrue to 1,155 credit union owners of the cooperative.
CO-OP Financial, which operates the biggest credit union-owned ATM network, earned net income of $24.2 million for 2009, also a 12% increase over 2008.
CO-OP has paid its members $191.9 million in dividends since it became a cooperative in 1996.
