For the fifth consecutive year, the League of Southeastern Credit Unions & Affiliates will issue full-dues paying credit unions a rebate in April.
This year's rebate will be 5.6%, equivalent to $202,623. While the average dues rebate is approximately $734 based on 276 member credit unions in Florida and Alabama, the rebate can as high as $7,900 because the formula for league dues is based on asset size of the credit union.
Over the last several years, the Southeastern league has returned more than $1.4 million to credit unions through dues rebates and patronage dividends.
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"To be able to offer a dues rebate for the last five years in a row is not only a testament to our organization, but is evidence of the support from our Alabama and Florida credit unions," LSCU & Affiliates President/CEO Patrick La Pine said.
"The dues rebate is made possible partially because of operating efficiencies within the league, but is impacted heavily by credit unions affiliating with the league, participating in our educational offerings, and purchasing products and services through LEVERAGE and its business partners."
LaPine added LSCU & Affiliates showed strong financial performance from both the LSCU and LEVERAGE in 2016.
Credit unions that pay their league dues in full by March 31 will receive their dues rebate in April. Any credit union that was granted a dues waiver or reduction last year is not eligible for a dues rebate.
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Peter Strozniak
Credit Union Times reporter covering credit union operations, fraud, M&As, leagues, business continuity, and breaking news.
