The $296 million GCS Federal Credit Union of Granite City, Ill., has paid a bonus dividend to members with share accounts for the first time since 2008, the credit union announced.
GCS FCU awarded share account holders with a bonus dividend of .25% in addition to the current share rate, bringing the year-to-date amount of dividends paid by the CU to more than $2.5 million.
Members received their bonus dividend deposits in November. The CU said it chose to pay the dividend prior to Christmas to thank members for their loyalty throughout the year.
“GCS remains a strong financial institution through this troubled economy and the board of directors would like to express their appreciation by giving back to our membership,” GCS FCU President/CEO Mark Holshouser said.
GCS FCU serves more than 38,000 members in Madison and most of St. Clair counties in Illinois.
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Natasha Chilingerian
Natasha Chilingerian has been immersed in the credit union industry for over a decade. She first joined CU Times in 2011 as a freelance writer, and following a two-year hiatus from 2013-2015, during which time she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union), she re-joined the CU Times team full-time as managing editor. She was promoted to executive editor in 2019. In the earlier days of her career, Chilingerian focused on news and lifestyle journalism, serving as a writer and editor for numerous regional publications in Oregon, Louisiana, South Carolina and the San Francisco Bay Area. In addition, she holds experience in marketing copywriting for companies in the finance and technology space. At CU Times, she covers People and Community news, cybersecurity, fintech partnerships, marketing, workplace culture, leadership, DEI, branch strategies, digital banking and more. She currently works remotely and splits her time between Southern California and Portland, Ore.
