CommunityAmerica Credit Union's membership gets back $8.4M
CommunityAmerica Credit Union divvied out a $8.4 million in dividends to its membership for its annual profit payout.
The payout marks the seventh year the Lenexa, Kan.-based credit union returned at least $5 million to its membership and the 23rd consecutive year that is has given members a dividend. Last year, the credit union returned $8 million to its membership.
In 2018, the $2.6 billion-asset institution gave an additional $3.1 million back to its members in cash-back free checking redemptions. Individual member payouts are determined on a member’s utility of a credit union’s services.
“The growth of our payout is representative of our growth as an organization,” Lisa Ginter, CEO of CommunityAmerica, said in a statement. “More Kansas Citians are finding a home with us as they navigate their financial needs and what they’re looking for in a banking partner.”
With over 230,000 members, CommunityAmerica has 30 branches across Kansas City and one in St. Louis.
The credit union's net-income through Sept. 30 totaled $10.3 million, down about 25 percent from the same period a year earlier.