Eastman CU Plans $4 Million Member Bonus

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KINGSPORT, Tenn. – Eastman CU will celebrate another successful year by paying members an extraordinary dividend of $4 million for 2010.

The $2.3 billion credit union plans to deposit the funds in members’ accounts in February.

Eastman has paid out $15 million in extraordinary dividends over the past three years.

Eastman reported $21.8 million in net income through the first three quarters of the year, even after accruing a $2.4 million charge for the corporate credit union bailout.

Dividend payments will be deposited directly into each eligible member’s savings account on or about Feb. 10, 2011. Deposit notifications will be included with the January statement and mailed to eligible members prior to the payment.

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