Florida Credit Unions Shared Services Inc., which does business as “Shared Services for Credit Unions.” announced a $678,242 patronage rebate and dividend to its participating credit unions and stockholders.
The 2016 rebate represented a 12.5 percent increase of from the previous year, thereby resulting in a total of $8.8 million in aggregate paid back to its participants and shareholders.
SS4CU is a CUSO that is wholly owned by 33 Florida credit unions.
"This cooperation and collaboration between credit unions is what truly makes our industry unique.” Allan Prindle, chairman of the board for SS4CU, said in a statement.
Prindle is also CEO of Power Financial CU, a $615 million institution based in Pembroke Pines, Fla.
