SUMTER, S.C.—Three more credit unions have announced bonus dividends and/or interest rebates.
SAFE FCU here is returning $2 million to its members. That is the total of the 2014 bonus dividends and loan interest rebates the $890-million SAFE gave back to members Dec. 31.
Deposit accounts, including certificates, received a 20% bonus based on dividends received in 2014. Loan accounts, except credit cards, received a 7% interest rebate based on total interest paid in the last year.
“We are delighted to be able to provide this ‘extra return’ to our members, on top of the competitive rates they have received all year,” SAFE President/CEO Beverly Gagne told scnow.com. “We can’t think of a better way to say to our members that at SAFE membership matters.”
SAFE has paid bonus dividends and loan interest rebates annually for the past 18 years.
Meanwhile, in Harrisburg, Penn., PSECU said it will issue another $10-million “Relationship Reward” to its members. It is the third consecutive year the credit union has made the bonus payout, which it said is made possible by the “active participation of a majority” of its members.
And in Waterloo, Iowa, Veridian Credit Union is returning $1.83 million in bonus dividend payouts to its more than 173,000 members. Members with a member equity savings account received a one-time 6% bonus dividend payment on the account for the month of December. Bonus dividend payments are made to members when the credit union’s capital-to-asset ratio exceeds 10%.
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