PEORIA, Ill.—CEFCU has returned $40 million to its membership, a record for CU year-end dividends.
Last year Dearborn, Mich.-based DFCU Financial set the record with a $23-million special patronage dividend.
CEFCU’s extraordinary dividend was deposited into members’ accounts Monday. The giveback is based on deposit and loan relationships through Nov. 30.
“We aren’t trying to set records but to support our members,” CEO Mark Spenny told the Journal Star.
Since 2000, the $5-billion CEFCU has returned $115 million in extraordinary dividends to its members, giving back $12 million last year.
An improving economy and a stable employment situation combined to make the economic picture a bright one in central Illinois in 2014, said Spenny, who looks for more of the same in 2015.
“We saw members willing to take on debt prudently in 2014. We see that continuing in 2015,” he said.
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