GREENSBORO, N.C.–Credit unions continue to announce year-end bonuses and rebates.
Among them, Premier FCU here which said it returned more than $304,000 to members in the form of 5% of interest paid on eligible loans. Over the last decade, Premier FCU said it has returned $2.6-million to members.
- In Fort Atkinson, Wis., Fort Community CU announced a bonus distribution of $400,000 to members in the form of a patronage dividend. The credit union said the payout is the largest paid since launch of its Member Loyalty Cash program in 2015. FCCU added it has returned $1.3 million in excess earnings to its members through its Member Loyalty Cash program over the past five years.“It’s our way of thanking our members for using the products and services we have to offer and being a part of the FCCU family,” said Sue Johnson, president and CEO of FCCU, in a statement. “We’ve had another successful year; we want to celebrate that with our membership. That’s just part of the credit union difference.”Qualifying members saw up to $83 in their accounts just for taking advantage of services like their debit card, credit card, estatements, mobile and online banking, and loan product offerings.
- In South Dakota, Sioux Falls FCU said for the third year in a row it is paying out a bonus dividend of $1 million. The amount paid is based on the level of savings and borrowing by members during 2019. “Because we’re not-for-profit. If we do well, our members do well,” the credit union said.
- In Pennsylvania, for the third year in a row Erie FCU is paying a bonus to members. EFCU said it will pay out $645,000 to members during January as part of its patronage bonus. Payments will be based on relationships with the CU and could be as large as $900 for some members. In all, 54,000 of EFCU’s 63,000 members will see some payout. The program has returned nearly $1.8 million over three years.