BROOMFIELD, Colo. — Community Financial Credit Union here said it will distribute $400,000 to reward its most loyal members as part of its "Member Bonus" program.
The $152 million CU said more than 3,200 members are eligible for the bonus this year and will receive amounts ranging from $5 to nearly $3,500. The Member Bonus is calculated based on the amount of interest and dividends earned on deposit accounts, as well as interest paid on loans.
"Last year was a very exciting year for Community Financial Credit Union," Greg Hill, the CU's president, said in a statement. "We broke ground on a new Broomfield branch and completed a merger with Boulder Municipal Employees FCU."
Hill said despite the growth, the CU is in "great shape" financially and will pay out the largest Member Bonus to date. "We are happy to be able to reward our most loyal members this way," he added.
Since 2008, Community Financial has given back $2.1 million to members. The CU said its Member Bonus program was awarded the Member Benefit Award from CUNA in 2013.
