EDWARDSVILLE, Ill.—Scott Credit Union has declared a bonus dividend and loan interest rebate of $1.8 million.
The funds have been directly deposited recently into Scott Credit Union members’ accounts, and has been calculated based on an additional 3% APY on deposits and a rebate of 3% on interest paid on any loan or credit card. In addition, Scott CU also added another 1% APY bonus dividend and a 1% loan interest rebate to thank its active members for helping the CU surpass the $1 billion in assets milestone this year.
“Since members own the credit union, this is a great way for us to thank them and share our success,” said President/CEO Frank Padak.
Over the past six years, Scott Credit Union has given bonus dividends and loan interest rebates back to members totaling over $6.4 million, and has paid a bonus dividend for 23 consecutive years, while paying the loan interest rebate for the past eight.
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