The Syracuse, N.Y.-based, $1 billion Empower Federal Credit Union paid active members a total of $2.5 million in bonus dividends and interest rebates on Dec. 31, the credit union announced.
Member rewards were based on savings account dividends earned and loan interest paid throughout 2011, the CU said.
President/CEO John D. Wakefield said Empower FCU enjoyed a prosperous 2011 with a significant increase in assets, loans and net income.
"Despite a challenging economy, 2011 was a strong year for Empower, so we are paying our members a give-back dividend and interest rebate," Wakefield said. "It's a way of sharing Empower's success with its member-owners, and a way to thank them for their membership."
Empower FCU serves more than 105,000 members in Central New York and eight counties in New York State.
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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.
