Everyone in the financial services sector is decrying about tight interest margins and some are experiencing increasing late payments and defaults, yet many credit unions are still handing out money like candy.

Credit unions have doled out whopping dividends over the last month. The $315 million FAA Credit Union of Oklahoma City paid out $271,152 to over 38,000 members. Financial Plus Credit Union gave its members a 10% bonus dividend, with an average payment per member of $32.20 and the highest single payout tallying over $1,300. And, of course, $1.8 billion DFCU Financial has 'returned' to its credit union roots after attempting a conversion to a mutual savings bank two years ago with a $17 million dividend for last year on top of $17.5 million the year before.

While Credit Union Times loves to hear about and report on all these rebates, I hope the news is making it beyond the trade press as well, to the local, and even national, mainstream media. This is one very tangible way credit unions differentiate themselves from banks, which continue to increase fees and loan rates while lowering interest on deposits.