Two more credit unions have announced their return of bonus dividends to members for 2012: the $5.6 billion, 238,000-member American Airlines Federal Credit Union of Fort Worth, Texas, and the $2.1 billion, 193,000-member Coastal Federal Credit Union of Raleigh, N.C.
AACU paid a $10 million bonus dividend to borrowers and savers on Dec. 31, 2012, in addition to a $50 bonus to members who participate in three or more of the credit union's eight major account categories.
The credit union based the bonus dividend amount on dividends earned on qualifying share accounts and interest paid on applicable loans through Nov. 30, 2012.
“Giving back to our member-owners is one of the primary benefits of credit union membership,” said Angie Owens, president/CEO at AACU. “We're happy to once again reward our members for their loyalty and product diversity while demonstrating our continued strength, efficient business practices and sound lending decisions.”
Coastal FCU distributed $1.6 million in loan rebate dividends and deposit bonus dividends to 6,907 members of its VIP Program, the credit union said.
This is Coastal FCU's second year to pay bonus dividends to members of its VIP Program, which it rolled out in January 2012. Individual payouts ranged from $100 to $1,000.
“Having a program that gives money back when we are financially successful reinforces the cooperative mindset and deepens member loyalty,” said Chuck Purvis, president/CEO at Coastal FCU.
To qualify for Coastal FCU's VIP Program, members had to make at least 144 checking account withdrawals in 2012, and to receive a dividend payout, they were required to hold at least two loan or deposit accounts at the credit union.
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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.
