Credit unions in N.C., Wis. pay out dividends
More credit unions have announced dividend payouts to members.
Greensboro, N.C.-based Premier Federal Credit Union on Monday announced a payout of more than $304,000, returning 5% of interest paid on eligible loans. That brings the credit union’s total member returns to nearly $2.6 million in a decade.
“Being a not-for-profit financial cooperative, we are committed to enhancing the benefits of being a member-owner.” President and CEO Lori Thompson said in a press release. “Our philosophy is that of ‘people helping people’ and we are proud to have helped so many of our members save money and get the things they need through our lending products.”
Premier FCU earned $2.1 million in net income through the first three quarters of 2019, the most recent data available, down slightly from $2.3 million during the same period of 2018.
Educators CU in Mt. Pleasant, Wis. also announced a payout, returning $3.4 million to nearly 100,000 members as part of its Member Loyalty program, which rewards activities such as direct deposit, increased purchases with the credit union’s plastic and more. Members were eligible to receive up to $165 each with the program. ECU has returned more than $10 million to members in the last three years.
ECU posted $19.5 million in net income through Q3 2018, up from $15.8 million at the close of Q3 2018.