The League of Southeastern Credit Unions & Affiliates announced that it will issue a 5.6% rebate to its full-dues paying member credit unions for 2017, marking the fifth straight year of such payments.
This year’s payout will amount to $202,623. LSCU & Affiliates has returned more than $1.4 million to credit unions through dues rebates and patronage dividends over the past several years.
Under terms of the dues rebate (which will be paid by check in April), member credit unions must have paid their dues in full by March 31; credit unions that were not affiliated with the league in previous years are still eligible to receive a dues rebate in 2017, as long as their dues are paid in full by March 31; and any credit union granted a dues waiver or reduction in 2016 is not eligible for a dues rebate.
“To be able to offer a dues rebate for the last five years in a row is not only a testament to our organization, but is evidence of the support from our Alabama and Florida credit unions,” LSCU & Affiliates President and CEO Patrick La Pine said in a statement. “The dues rebate is made possible partially because of operating efficiencies within the League, but is impacted heavily by credit unions affiliating with the League, participating in our educational offerings, and purchasing products and services though LEVERAGE [the LSCU Service Corporation] and its business partners.”
LSCU & Affiliates represents 276 credit unions in Alabama and Florida, comprising $68 billion in assets and more than 6.8 million members.