Hanscom Federal Credit Union this week announced a membership payout for 2017.
The $1.2 billion CU, based on Hanscom Air Force Base, Mass., said the special payment, known as a “loyalty dividend,” will result in a return to members of 2 percent of most consumer loan finance charges, plus 2 percent of dividends earned on savings.
Hanscom FCU said the loyalty dividend payment will be posted to member accounts on Dec. 31.
According to the credit union, 2017 marks the 21st consecutive year it has paid a dividend to its members. Hanscom FCU said it has returned more than $8 million directly to its members since 1996.
“The loyalty dividend is the result of a successful year,” Paul Marotta, chairman of the board of directors for Hanscom FCU, said in a statement. “I am proud that we are able to provide this gesture of gratitude to our members. The confidence they place in us makes this possible.”
In 2016, Hanscom FCU had $8,040,609 in net income, according to its call report. As of Dec. 31, 2016, its net worth ratio was 10.08 percent (“well capitalized”).
As of its latest call report, in the first nine months of this year Hanscom FCU listed $8,285,323 in net income. Its net worth ratio as of Sept. 30, 2017, was 10.26 percent (“well capitalized”).
In 2015, Hanscom FCU had $6,793,986 in net income. In 2014, it made $6,736,429.