DEARBORN, Mich. - DFCU Financial yesterday announced it will pay its members a special dividend of more than $17 million for the second straight year.
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Eligible members will receive a 0.5% dividend on their 2007 average loan and deposit balances, to be deposited in their accounts on Jan. 7.
Every member will receive at least $50. The $1.8 billion credit union paid its members a special dividend amounting to $17.5 million last year, the largest ever paid by a credit union.
Announcement of last year's record payout came on the heels of the credit union's failed attempt to convert to a mutual savings bank. This year, almost 134,000 members will receive payments.
