Oklahoma City, Okla.-based True Sky Credit Union on Thursday said it gave 2016 year-end rebates and bonuses totaling $359,000 to more than 50,000 members.
It was the 16th consecutive year the $581 million credit union has paid a year-end dividend. True Sky reported it has given back more than $4 million in rebates and bonuses through the program.
This year's dividend came in the form of a rebate paid to members who paid interest on loans or earned dividends during the year. The funds were directly deposited into member savings accounts and reflected on their Dec. 31 statements.
"We are proud to be one of the few financial institutions to give back to our members with year-end rebates and bonuses," Steve Rasmussen, True Sky CU's president CEO, said in a statement. "It brings us great joy to have the ability to give our profits back to our members. It is our special way of thanking members for their business."
Some accounts and loan types do not qualify for the program, True Sky noted.
With headquarters in Oklahoma City and seven branches in the greater Oklahoma City area, True Sky Credit Union has been serving members for 70 years. Today, the CU has 51,000 members in Canadian, Cleveland, Grady, Lincoln, Logan, McClain, Oklahoma and Pottawatomie counties. Membership is open to anyone who resides, works, worships or attends school in its eight-county service area.