The $450 million Mazuma Credit Union of Kansas City, Mo. paid members a bonus dividend of more than $930,000 on Dec. 31, marking the end of its most successful year in its history, the credit union announced.
Members received 4% of the interest earned on qualifying share deposit accounts and 4% of the interest paid on qualifying loans throughout 2011, the CU said.
"Credit unions are about giving back to members," said Brandon Michaels, president/CEO for Mazuma CU. "This special dividend is one way for the board of directors to say 'thank you' to all of our members who have helped make this a truly special year. In these tough economic times, you can always count on Mazuma to be there for our members. On behalf of the board of directors and the entire Mazuma team, this is our gift to our members."
Mazuma CU was established in 1948 and serves more than 52,000 members living or working in Cass, Clay and Jackson counties in Missouri.
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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.
