LANCASTER, S.C. – Founders FCU is the first credit union to announce a bonus dividend for the year, a $10 million payout.
Founders will distribute the bonus dividend, its first in three years, among savers and borrowers on Nov. 30. “With the recent turmoil surrounding the financial services industry, our ability to distribute this bonus dividend is especially important. And, we’ll do it before the holiday season – when our members need it most,” said Bruce Brumfield, president of the $1.6-billion credit union.
This year’s member bonus was made possible by strong earnings of almost $16 million for the first three quarters, the credit union said.
The announcement of this bonus dividend is the first since 2008 and brings the total bonus dividend amount for the credit union to $30 million over the last 11 years. Founders distributed $6 million in 2008 and 2006, $4 million in 2003, and $2 million in 2001 and 2000.
