CU Members Reap Millions In Bonuses

Register now

 

FORTH WORTH, Texas – American Airlines FCU said this afternoon it paid its members a $10 million bonus dividend, one of the biggest credit union payouts ever.
The announcement from the Texas credit union giant comes as New York’s biggest credit union, Rochester-based ESL FCU said it distributed $7.25 million year-end bonus to members on Friday.
The Texas-size payout by American Airlines FCU rewarded both savers and borrowers. The savings portion was calculated on share dividends earned Jan. 1 through Nov. 30, and was paid at an annual rate of 4.72%. The additional portion  was calculated at an annual rate of 4.72% of interest paid Jan. 1–Nov. 30, on those applicable loans.
To recognize the most active and loyal members, an additional $50 bonus was distributed to members who participated in three or more of the eight major account categories.
“We’re proud of the fact that we are once again able to reward our member-owners
with this bonus dividend as an appreciation of their business,” said Angie Owens, president of the $5 billion credit union.

American’s payout is up from last year’s $9.6 million member bonus. 

FT. WORTH, Texas – American Airlines FCU said this afternoon it paid its members a $10 million bonus dividend, one of the biggest credit union payouts ever.

The announcement from the Texas credit union giant comes as New York’s biggest credit union, Rochester-based ESL FCU said it distributed $7.25 million year-end bonus to members on Friday.

The Texas-size payout by American Airlines FCU rewarded both savers and borrowers. The savings portion was calculated on share dividends earned Jan. 1 through Nov. 30, and was paid at an annual rate of 4.72%. The additional portion  was calculated at an annual rate of 4.72% of interest paid Jan. 1–Nov. 30, on those applicable loans.

To recognize the most active and loyal members, an additional $50 bonus was distributed to members who participated in three or more of the eight major account categories.

“We’re proud of the fact that we are once again able to reward our member-owners with this bonus dividend as an appreciation of their business,” said Angie Owens, president of the $5 billion credit union.

American’s payout is up from last year’s $9.6 million member bonus.

 

 

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER