EDWARDSVILLE, Ill. – Scott CU, having its biggest year ever, paid members a $1.2 million bonus dividend and loan interest rate rebate.
The $860 million credit union, which reported a new high of $7.8 million net income for the first three quarters of the year, has given active members an additional 3% APY bonus dividend on their deposits and a rebate of 3% of the interest they paid this year on any loan or credit card to thank them for their loyalty.
The bonus dividend and loan interest rebate was directly deposited into Scott members’ accounts this week.
“Since members own the credit union, this is a great way for us to thank them and share our success,” said Frank Padak, president of Scott CU.
Over the past four years, Scott CU has given bonus dividends and loan interest rebates back to members totaling over $3.3 million, but this year’s is the biggest bonus. Last year's member payout was $1.1 million.
