RADCLIFF, Ky.– Abound Credit Union is reporting it delivered more than $23.8 million in direct financial benefits to its more than 117,000 members through lower loan rates, lower fees and higher earnings on deposits.
That’s an average savings of $202 per member or $425 per household, according to the latest Member Benefits Report compiled by the CUNA, the credit union said.
Depending on how members utilize Abound’s financial products and services, their actual savings may be higher than the averages quoted above. For example, financing a $30,000 new automobile with Abound for 60 months would save an individual an average of $259 per year compared with other banking institutions in Kentucky. That’s approximately $1,295 in savings over five years, ACU said.
“Abound exists for one simple reason: to improve the lives of our members,” said President and CEO Ray Springsteen. “We’re proud of how much we’ve been able to save so many of our hard-working friends and neighbors this past year and look forward to helping even more Kentuckians build brighter financial futures.”