Over the past nine years, Coastal has returned $21.1 million to members as special dividends. Figuring the amounts takes some time after the end of the year, and the payment date began drifting. In 2017, the credit union decided to make the payments on Valentine's Day.

"Loyalty Bonus Day has become somewhat of a company celebration here," Coastal President/CEO Chuck Purvis said.

"It's so much more than a monetary payout to our members," Purvis said. "It's a day where we celebrate the very reason we're able to return that money to them. As a member-owned cooperative, we're not obligated to extract huge profits from consumers and pay them out to investors."

The credit union also looks at the overall positive impact it has by saving money for members on their everyday financial needs.

Joe Mecca, vice president of communication, said Coastal also calculates the difference between its loan rates, deposit dividends and fees, compared to the banks in its central North Carolina market, plus other credit union incentives offered in the year. For 2019, it estimated it saved members $35 million, or $130 per member.

The $3.7 million special dividend represents 11 bps of its average assets, compared with its ROA of 0.92% for the 12 months ending Sept. 30.

In addition, Good Neighbors Credit Union of Buffalo, N.Y. ($54.9 million, 6,369 members) paid members $101,913 in December as interest rebates, or about $16 per member. The amount represents 0.20% of its average assets, compared with its ROA of 1.32% for the 12 months ending Sept. 30.

So far this season, 42 credit unions ($87.7 billion, 6.1 million members) have announced $287.3 million in special dividends. The amount represents about $47 per member and 34 bps of their 12-month ROA of 1.09%.