Denton, Texas — DATCU Credit Union announced it paid a bonus dividend of $1,090,000 to its members on Jan. 1 — the largest bonus dividend in the institution's history.
The board of directors for the $679 million credit union approved the one-time bonus dividend payout at the board meeting held on Dec. 17. The dividend of 0.20% was paid based upon a member's annual average of all balances.
According to the DATCU, this is the fifth consecutive year it has paid a bonus dividend to its members. In the last five years, DATCU has distributed more than $3,020,000 in bonus dividends. The credit union paid a dividend of $974,000 on its 2012 performance, which was almost triple the $364,000 it paid out the year before.
"It is truly an honor to again this year reward our membership with a bonus dividend," Dale Kimble, DATCU’s CEO, said in a statement. "It is our way to thank our members and show our appreciation for their loyalty to the credit union. This extra return, above our already competitive rates, clearly demonstrates that active membership at DATCU is a smart decision."
DATCU Credit Union was founded in 1936. It serves more than 74,000 members. Membership is open to anyone living or working in Denton, Cooke, Wise, Montague or Clay counties.
