SYRACUSE, N.Y. — Empower FCU here has awarded a $2.5 million "giveback" to members in bonus dividends and interest rates in celebration of another successful year.
Dividends and rebates will be posted to members accounts on Dec. 31, and all members in good standing at the $1.2 billion credit union will receive a bonus.
The amount each member receives is based on a percentage of savings account dividends earned and a rebate on loan interest paid throughout 2014. This is the seventh year the CU has offered a giveback, and rewards total $17.5 million to date.
"Our success is a result of our members who join and take advantage of the products and services we offer," SVP of Administration Rich Nave said in a statement. "As a result, we are able to share this success with our member-owners and be able to make a difference in their financial lives."
Empower's latest Call Report shows a net income of $9.8 million for the first three quarters of 2014, following on the heels of $10.2 million in net income for 2013.
