DFCU Financial Plans $19 Million Member Payout
DEARBORN, Mich. – DFCU Financial, which has returned more than $90 million to members in special dividends over the past four years, announced plans this morning for another $19 million payout this year.
The $2.7 billion credit union will also give away an additional $25,000 during a Double Your Dividend promotion, allowing a selected 25 members to double their dividends up to $1,000.
This year’s huge payout, tied with last year’s as the biggest ever for a U.S. credit union, was made possible by another successful year for DFCU, which reported $25.7 million in net income through the first three quarters, even counting for a $3 million charge for the corporate credit union bailout.
DFCU is one of the most successful credit unions in the country, having earned net income of $11.5 million last year–even after a similar $19 million special dividend.
This year’s Special Patronage Dividend will be calculated based on each member’s total relationship to the credit union.