HOUSTON, Texas–Cy-Fair FCU has announced a special dividend of more than $250,000 was paid to its members during March.
“Credit unions embody the power of people helping people. Every dollar one member puts into a savings account is a dollar provided to a neighbor looking for an auto loan or financing for a much-needed home improvement,” said Cy-Fair FCU President and CEO Cameron Dickey in a statement. "It’s the true spirit of a credit union community. We’re a not-for-profit, which means we get to give back to our members. Because Cy-Fair FCU is owned by its members, being able to pay this additional dividend is something we are very proud of.”
Cy-Fair FCU said investing in financial technology and efficiencies over the past several years has created a more cost-effective financial services model, and the special dividend is one of several positive results from the cost-saving changes.
In addition to returning an extra dividend to members, Cy-Fair said it has also raised its CD and Money Market rates for 2019.