COLORADO SPRINGS, Colo. — Ent Federal Credit Union Tuesday said it will return $12.5 million to its members through a member dividend.
Each Ent member in good standing as of the end of 2014 will receive a minimum dividend payout of $25, which will be deposited into members' primary savings accounts on Jan. 22.
According to Ent, members may receive an additional dividend amount based on the amount of interest they paid on loans and dividends they earned on deposits in 2014.
The $4 billion CU's board of directors said in a statement Ent's "strong" 2014 financial performance allowed it to approve the one-time dividend to member-owners "as an additional benefit of belonging to the credit union."
"Sharing this Member Dividend allows us to recognize the contributions that our member-owners, both borrowers and savers, have made to the financial success of the credit union," Randy Bernstein, Ent's president and CEO, said in a statement. "Our members' continued use of Ent products and services is a key component of the credit union's continued success."
"On behalf of the board of directors, management, and all of Ent's employees, we want to thank our members for continuing to turn to Ent for all their financial needs. Ent has been serving members of the community for more than 57 years, and we look forward to continuing to serve member needs in the years ahead," said Tim Rickert, chairman of Ent's board.
Ent FCU was established in 1957 and today serves more than 240,000 members through 27 service centers throughout Colorado Springs, Woodland Park, Pueblo and Denver.