CUs Show Members the Money

WEST PALM BEACH, Fla. – As bankers continue to beat the “credit unions should be taxed” drum, credit unions have been busy returning year-end bonus dividends to their members. Listed below are just a few of the credit unions that are proving how it literally pays to be a member: *Fremont, Michigan-based Gerber Federal Credit Union paid out nearly $90,000 on its bonus dividend. With the 1.5% bonus, dividend rates in December for the credit union’s regular savings accounts rose to 3.50% (3.55% APR) and share draft accounts received 2.25% (2.27% APR). Rates climbed to 4.00% (4.06% APR) on super six accounts. The $82 million credit union has awarded bonus rewards for the past three years. *In Dubuque, Iowa DuTrac Community Credit Union shared its good year with members by giving back over $417,000. According to DCCU President/CEO Tom Sarvis, the credit union is only one of two local financial institutions giving members “a bonus anything”. *Oklahoma City, Oklahoma-based FAA Employees Credit Union issued a 2% bonus dividend on interest earned on all deposit accounts and a 2% interest rebate on all loan interest paid, excluding real estate loans. This marks the third year in a row that the credit union has offered this type of bonus for members. *In Lowell, Massachusetts Jeanne D’Arc Credit Union distributed a total $1.3 million to members. This is the eighth year in a row members received a year-end bonus. The dividend was provided to members in five different ways: *Savings account members received a bonus dividend. *Mortgage members received $100 per loan. *Home Equity members received $50. *Consumer Loan members received $25 per loan. *JDCU Visa Platinum and Gold members received a CashBack reward. [email protected]