ORNL Federal Credit Union in Oak Ridge, Tenn., has issued a $3 million special dividend to its members.
The special dividend was approved by ORNL FCU’s board during the credit union’s August meeting and given to its more than 163,000 on Friday. It is the $2.1 billion-asset credit union’s first rebate since 2005.
“The credit union has experienced strong growth, good earnings and remains well-capitalized,” Randy Gorman, chairman of ORNL, said in a statement. “For these reasons, and to celebrate our anniversary, this special dividend is an appropriate way to return value and express appreciation to the members.”
Established in 1948 with 10 members, the credit union now serves 16 countries across Tennessee and celebrated its 70th anniversary in August. It earned $10.1 million for the first six months of the year, up about 62 percent from the same period in 2017.
