COLLINSVILLE, Ill. – Scott CU will be paying members a total of $1.1 million in bonus dividends and loan rebates later this month.
The $780-million credit union said it will pay active members an additional 3% 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 Scott board approved the bonus dividend and the loan interest rebate as another way to share the success of the credit union in 2011 with its members.
“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.
Over the past 10 years, Scott CU has given bonus dividends back to members totaling well over $2.1 million, Padak noted.
