PSCU-Financial Services Pays Record $21.6M Dividend

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PSCU Financial Services declared patronage dividends of $21.6 million, payable to its more than 500 member credit unions nationwide. This is the tenth consecutive year that the company has issued dividends, bringing the total dividends declared to $108 million since the company became a cooperative in 1994. PSCU Financial Services reported that the 2004 patronage dividend, the largest in the company's history, represents a $15.0 million target dividend plus an additional dividend of $6.6 million due to the company's financial success. The total 2004 dividend is $21.6 million, which is 85% higher than the company's 2003 dividend.

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