DUMAS, Texas–Shamrock Federal Credit Union has paid a bonus dividend and interest refund to its members for the first-half of 2015.
The Cornerstone CU League quoted Shamrock FCU Operations Manager Scott Snyder as saying the CU’s board felt that it had more than enough capital and that earnings were strong, so it decided to return funds to the members. It did so by paying a 1% refund to borrowers and a 1% bonus dividend to savers. It was paid during the first six months of 2015 and based on December 2014 average balances on loans for the interest rebate, and December 2014 average balances on regular share and share draft accounts. IRA and CD accounts were not included in the calculation, according to the Cornerstone CU League.
The Cornerstone league reported that 20 of its member CUs paid a bonus of some type based on 2014 performance.