FORT WORTH, Texas — American Airlines Federal Credit Union said it distributed more than $12.7 million in dividends to qualifying member-owners on Dec. 20, 2014.
"Giving back to our member-owners is one of the primary benefits of credit union membership," said Angie Owens, president and CEO of American Airlines FCU, in a statement. "We're happy to once again reward our members for their loyalty and product diversity while demonstrating our continued strength, efficient business practices and sound lending decisions."
The $5.6-billion CU has nearly a quarter-million members, mostly employees or retirees of the air transport industry and their families.
The credit union explained that the bonus dividend was based on dividends earned on qualifying share accounts and/or interest paid on applicable loans. Also, the savings portion of the dividend was calculated of share dividends earned through Nov. 30 and the loan interest portion of the bonus dividend amount was calculated on interest paid through that date.
"The credit union's purpose is to return value to its member-owners," Owens added. "This bonus is paid above regular dividends, in addition to lower loan rates and higher dividends member-owners already enjoy. To recognize the most active and loyal members, an additional $50 bonus was distributed to those who actively participated in three or more of the eight major account categories."