DATCU Credit Union, an $865 million-asset institution based in Corinth, Texas, celebrated the new year by paying out the biggest-ever bonus dividend in its history, a whopping $3.4 million.
Dividends were paid on Jan. 1, 2017, with qualifying members receiving a 0.50% dividend, based upon a member's average daily balance during 2016, all balances combined, for the entire year.
This marks the eighth consecutive year that DATCU's board has paid a bonus dividend. Over that period, DATCU has distributed over $9.5 million back to its members.
"Our members are the key to our success, DATCU President and CEO Glen McKenzie said in a statement. "DATCU had another great year and it's just another way to reward our members for doing business with us."
McKenzie recently took the helm at the credit union, succeeding
