Members of the $825 million South Florida Educational Federal Credit Union in Miami have been enjoying a little extra spending money this month.
South Florida Educational FCU announced it paid members a shared earnings dividend of $2 million on Aug. 3, which brings the credit union's total shared earnings dividend payout amount to $16.3 million since 2007.
The credit union said the $2 million dividend is equal to 10% of the dividends received on most members' combined credit union savings accounts, plus the interest paid on most of their credit union loans, between July 1, 2011 and July 1, 2012, adding that the more a member saved and/or borrowed through the credit union during the one-year time period, the larger his or her portion of the shared earnings dividend.
This dividend is in addition to the regular dividend members receive on their savings accounts, South Florida Educational FCU said.
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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.
