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Money, Money, Money

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.

By Sarah Snell Cooke | Updated on February 05, 2008

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.

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