REDMOND, Wash.-Qualstar CU is paying members $2.5 million in bonus dividends. The bonus is based on both deposit and loan relationships, as well as other services, such as eStatements. Individual bonuses range from $5 to several thousand dollars, with the average dividend $72. Other CUs paying bonuses include:
* Anheuser-Busch Employees' CU, St. Louis, and its American Eagle CU division paid its first-ever special dividend for members, returning almost $1.2 million to 69,000 members.
* Ohio's First Class CU, Cleveland, declared both a loan interest rebate and a bonus dividend for the sixth consecutive year. For 2012, members with loans received a rebate of 4% of the interest they paid on those loans during the year. In September, the credit union also paid a bonus dividend of 8% of the dividends that members earned on their savings accounts through the third quarter of 2012.
* In Ashwaubenon, Wis., PCM Credit Union paid out a year-end patronage refund of $369,314, its sixth rebate since 2004. Savers received a 5% bonus dividend of the interest earned on all types of savings accounts, and borrowers received a rebate of 5% of the interest paid for the year.
* Community Financial CU, Broomfield, Colo., is payng $300,000 back to its members as part of its fifth annual bonus dividend. The bonus program also generated $10,000 for the Jessica Ridgeway Legacy Fund, for which members were allowed to designate all or part of their payout. The Ridgeway Family initially opened this specific account during the search for their missing daughter due to the fact the community wanted to make a donation for search efforts.
* In Lenexa, Kan., CommunityAmerica Credit Union has paid a dividend of $5 million its members as part of its 2013 Member Owner Return (MORE), the 14th consecutive year it has done so.
* The $126-million Otis FCU, Jay, Maine, has returned $325,000 in interest refunds and bonus dividends to its 10,000 members through its Return to Member campaign. It returned 7% of the interest paid on loans, and paid a 7% bonus on dividends earned.
* In Ft. Worth, Texas, American Airlines FCU has paid a $10-million bonus dividend to its members as both a savings bonus and loan interest refund. To recognize the most active and loyal members, AAFCU said an additional $50 bonus was distributed to those who participated in three or more of the eight major account categories.
* Coastal FCU in Raleigh, N.C., distributed a record $1.6 million dollars in Loan Rebate Dividends and Deposit Bonus Dividends through its VIP Program to 6,920 member accounts. "The payout is in response to the credit union's continued commitment to give back to its members who actively participate in the cooperative by bringing their core financial relationships to Coastal," said Coastal.