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Six credit unions have announced they are paying $36.7 million in special dividends to 1.5 million members spanning the nation.
Nearly half is from Desert Financial Credit Union, which is paying members $16 million in January as a Member Giveback Bonus. The Phoenix credit union ($8.9 billion in assets, 472,620 members as of Sept. 30) is paying $34 per member and 19 basis points of its 0.86% return on average assets for the 12 months ending Sept. 30.
“The Member Giveback Bonus is just one of the many benefits of banking with Desert Financial,” Meshey said. “We’re committed to giving back in ways that truly matter to our members, and putting cash directly back into their pockets is one of the most impactful ways we can make a difference in their daily lives.”
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