The $244 million Guardian Credit Union in Montgomery, Ala., said it distributed $785,000 this month in dividends and interest rebates to more than 20,000 members, including one individual who received more than $2,900.
Last year, the cooperative distributed more than $800,000 to members.
Guardian CU, which serves 35,338 members, said it has disbursed $2.3 million to members over the past three years.
The rebates and dividends were possible due to Guardian Credit Union's positive financial results throughout the year, which is largely based on member relationships and their loyalty, the credit union said in prepared statement.
“Our members deserve this,” said Heath Harrell, Guardian CU president/CEO. “Returning profits to our members is a true example of the difference between credit unions and banks.”
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Peter Strozniak
Credit Union Times reporter covering credit union operations, fraud, M&As, leagues, business continuity, and breaking news.
