FORT WORTH, Texas-Credit unions in the U.S. have paid members more than $75 million in special bonuses and loan interst rebates for business done during 2011.
The actual figure is most likely larger, and includes only those patronage bonuses and loan rebates that were reported by the credit unions to Credit Union Journal.
The Journal included in its 2011 calculation a mid-year 2011 bonus paid by MECU in Baltimore. Almost one-third of the $75,509,052 figure was paid by DFCU Financial in Dearborn, Mich., which once again led the country by rebating $21 million to members.
The most recent CUs to announce year-end bonuses include:
• American Airlines FCU, which paid members $10 million, an amount similar in size to last year's bonus. AAFCU's bonus was based on dividends earned on qualifying share accounts and/or interest paid on applicable loans. To recognize the most active and loyal members, an additional $50 bonus was distributed to those who participated in three or more products.
• In Fairborn, Ohio, Wright-Patt CU has paid a $5-million Patronage Dividend BS has returned $16 million since 2009.
• NuMark CU, Joliet, Ill., paid a 7% bonus dividend to checking account holders.
• In Ashwaubenon, Wis., PCM CU paid out $370,252 to members via a 5% bonus on interest earned and a 5% rebate on all loans. It said it will pay at least the same amount in 2012.
• Empower FCU, Syracuse, has paid a $2.5-million bonus dividend and interest rebate to members.
• At Hansom AFB, Mass., Hanscom FCU paid a $567,000 Loyalty Bonus, the 15th consecutive year it has done so.
• The $450-million Mazuma CU, Kansas City, Kan., paid a $930,000 bonus to members, refelecting 4% of the interest earned on deposits and 4% of interest paid on loans during 2011.
• SAFE FCU, Columbia, S.C., announced a $2-million savings bonus and loan interest rebate last week.
• Community Financial CU, Broomfield, Colo., said it would return $306,000 to its 2,150 members, who will receive amounts ranging from $5 to $4,437.
• Gerber FCU, Fremont, Mich., paid $180,000 to savers.
