PSCU-FS Returns $3.9 Million

Register now

PSCU Financial Services said its redemption of the 1997 revolving funds has resulted in the return of more than $3.9 million in patronage equity to member-owner credit unions.

The payment is being made months ahead of the scheduled payment due date. PSCU Financial Services has paid out more than $36 million in cash dividends since it became a cooperative in 1994, the company said. At least 25% of the dividend is paid each year in cash, while the remaining 75% or less is distributed in the form of equity instruments.

CEO David Serlo credited the payment to PSCU's status as a CUSO.

For reprint and licensing requests for this article, click here.