‘Tis the Season for Giving to Your Members

LANCASTER, S.C. – Members of Founders FCU will get help paying off their Christmas debt pretty quickly this year–a $6 million bonus dividend, just days after Christmas. All across America, credit unions are paying out millions of dollars in holiday dividends, some of the biggest ever. Last week Goldenwest FCU announced a $575,000 pre-Christmas dividend. Dort FCU in Flint, Mich., announced a $1 million dividend Friday. Fort Campbell FCU, in Clarksville, Tenn., announced another $1 million dividend yesterday. Eastman CU, in Kingsport, Tenn., announced its own$4 million payment yesterday. And later this week, Arizona FCU has promised a $10 million bonus dividend, one of the biggest ever for a credit union.”This is just one of the ways we share our success with the members who made it possible,” said Founders FCU President Bruce Brunfield, of his credit union’s $6 million dividend. The 56-year-old credit union had one of its best years ever, he said, noting it crossed the $1 billion mark in assets and opened three new branches. Olan Jones, Jr., president of Eastman CU, pointed to additional benefits of his credit union’s $4 million Extraordinary Dividend. “Not only is the Extraordinary Dividend great news for our member-owners, but it represents a significant boost for the local economy,” he said. Eastman CU has returned almost $30 million to its members as a bonus dividend since 1998. Founders has returned more than $8 million to members as bonus dividends over the last eight years, but this is the biggest payout yet. The biggest dividend ever is believed to be a $12 million payout by Clark County CU in Las Vegas earlier this year.