BRISTOL, Penn.–NBACU members received more than $350,000 in rebates and bonuses on top of the regularly scheduled $125,000 in 4th quarter dividends.
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The CU issued a loan interest rebate on all loans on the books in 2008–even if they were paid off during the year or delinquent at any time. The rebate was a percentage of the total year-to-date interest paid.
NBACU also paid a dividend bonus on all savings, checking, money market and IRA accounts, as well as CDs. The rebate and bonus were deposited into members’ savings accounts.
Like other CUs offering special year-end bonuses, NBACU used its $350,000 payout as a way to tout the credit union difference in the midst of financial crisis.
