CRANBERRY TOWNSHIP, Penn.-U$X FCU paid its members a loyalty reward for the eighth straight year.
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The annual payout amounted to 8% of every dollar of dividends earned or interest paid in 2009, a total of $585,000. "We believe that when the credit union is successful, it's not only a sound business practice to reward the owners of the credit union and share our surplus, but that this practice clearly demonstrates the credit union difference," said David Ackerman, president of U$X.
The $165 million credit union has paid out a total of $5.3 million in loyalty rewards since 2002. U$X reported net income of $522,000 for 2009, after a loss of $500,000 for 2008.
