Four more credit unions have announced $10 million in special dividends, but for one of them, this year will be the last for an annual bonus.
Founders Federal Credit Union, Lancaster, S.C. ($2.6 billion, 223,495 members) paid members $5 million Dec. 1 as Loyalty Bonuses. From now on, they will be able to receive bonuses through its new Loyalty Select program, a special high-yield savings account where rewards are deposited.
Founders' last Loyalty Bonus represents about $22 per member and 20 basis points of its 1.24% returns on $2.5 billion in average assets for the 12 months ending Sept. 30.
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