KINGSPORT, Tenn. – Eastman CU, the state’s largest credit union, said last week it will pay members a $4 million extraordinary dividend early in 2010, for the second year in a row.
The payout will reward both savers and borrowers and be based on how much business each member did with the credit union in 2009.
“Our extraordinary dividend is one thing which really sets us apart from the competition,” said Olan Jones, president of the credit union.
Eastman reported a $13.5 million net for the first three quarters of the year, even after recording an $11.9 million charge for the corporate credit union bailout.
This marks the 13th consecutive year that the $2.3 billion credit union has declared an extraordinary dividend. Including this year’s payout, Eastman will have distributed a total of $41 million in extraordinary dividends to eligible members since 1998.
