DEARBORN, Mich. – DFCU Financial, the state’s biggest credit union, gave its members what it is calling its own economic stimulus earlier this month – a credit union-record $19 million special dividend.
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The $19 million payout exceeds the previous credit union record of $17 million, paid each of the previous two years by DFCU, which has distributed $70 million in bonus dividends over the past four years. The credit union had a strong 2009, with operating net income of $38 million for the first three quarters of the year.
This year’s dividend was calculated based upon each member’s total relationship with DFCU Financial. Members were paid 0.5% on all their loan, deposit and credit card balances with DFCU Financial.
