LANCASTER, S.C.—Founders FCU here paid a special “Loyalty Dividend” to some of its members this week. In all, the credit union returned $5.7-million to members.
Members qualified for the dividend in two ways: by receiving a percentage of year-to-date interest paid and dividends earned if they meet the minimum Loyalty Dividend payout of $10, or if they have an active Founders Checking Account and Direct Deposit, they were paid a percentage of year-to-date interest paid and dividends earned or a minimum of $10 as long as their Checking Account has had activity during the month of November 2014.
The credit union also paid a longevity bonus, paying out an extra $20 to members who had an account for 20 years or longer providing they had an active checking account and direct deposit.
Founders FCU has created an online calculator that allows consumers to determine their loyalty dividend, including if they have accounts at another institution and want to determine how much they would have earned at Founders.
Since 1992 Founders FCU has returned $45-million to members in the form of special dividends.