CUs Surpass $177 Million In Givebacks To Members In 2018

CHICAGO–With the close of February now here, CUToday.info is also closing out its 2018 Member Giveback Tracker, which shows credit unions have returned more than $177 million to their members.

Member Giveback Tracker

To be exact, credit unions in the CUToday.info Giveback Tracker have paid back $177,691,815 in the form of bonus dividends and loan rebates.

In some cases, credit unions are rewarding all members; in others, credit unions are rewarding members based on their participation in the credit union and even more specifically, certain programs.

Among the most recent to announce give-backs to members:

  • In Lake Charles, La., CSE Federal Credit Union paid out a little more than $1 million to its members as part of a year-end bonus.
  • In Tulsa, Okla., TTCU FCU announced it paid out nearly $3 million. During Q4, TTCU said it also paid out $755,139 in member rewards dividends.
  • In Jackson, Mich., American 1 Credit Union paid out $1.2-million to members in the form of loan interest rebates and other givebacks.
  • In International Falls, Minn., TruStar FCU announced a patronage dividend of $750,000.
  • In North Carolina, Coastal CU paid $3.3 million as part of Loyalty Bonus program.
  • In Lee’s Summit, Mo., Central Credit Union has paid out a $100,000 year-end bonus

 Others Paying Bonuses, Rebates

 Among other 2018 year-end bonuses/rebates earlier reported by CUToday.info:

  • PEORIA, Ill.–CEFCU has paid out a record $50 million determined by dividends earned and interest paid to members during the first 11 months of the year.
  • SUMTER, S.C.– SAFE FCU has paid out more than $1.2-million in bonus dividends and interest rebates to its members.
  • SCHAUMBURG, Ill.–Andigo Credit Union said it has paid out an “Owner Participation Dividend” of $1 million.
  • EDWARDSVILLE, Ill.–Scott Credit Union has declared a bonus dividend and loan interest rebate of $570,000 to members.
  • ROCK ISLAND, Ill.–Gas & Electric Credit Union here has paid a $250,000 year-end giveback to its members.
  • CLARION, Penn.– Clarion FCU said it is returning $300,000 to members based on their relationships with the credit  union. CEO Mark Lauer said it is the third consecutive year Clarion has made such a payout, which now total $800,000.
  • WILLIAMSVILLE, N.Y.–Western Division Federal Credit Union said it will pay out more than $750,000 to its members as part of a "patronage dividend.
  • KINGSPORT, Tenn. — Eastman Credit Union announced an Extraordinary Dividend of $13 million, which brings the total to $118 million paid to members since 1998.
  • COLORADO SPRINGS, Colo. – Ent Credit Union’s members received more than $11 million from the credit union’s 2018 Ent Extras rewards program’s payout.
  • BEAVERCREEK, Ohio–Wright-Patt Credit Union has announced it will pay an $8.6-million Special Patronage Dividend to members in early 2019.
  • MEDFORD, Ore.–Rogue Credit Union has announced it will pay $4 million to members who are part of its Rogue Rewards Loyalty program
  • FT. BRAGG, N.C.–Fort Bragg FCU here is paying out more than $624,000 in loyalty dividends to approximately 24,000 qualified members.
  • WARNER ROBINS, Ga.–Robins Financial Credit Union has announced it is returning $13 million as part of a “Member rebate.”
  • HANSCOM AFB, Mass.–Hanscom Federal Credit Union announced a membership payout for 2018. The credit union said it will pay a Loyalty Dividend of 2% of most consumer loan finance charges, as well as a 2% bonus on dividends earned on savings.
  • SIOUX FALLS, S.D.–Sioux Falls FCU is returning $1 million to its members as part of a year-end giveback.
  • SIDNEY, Mont.–Richland FCU said it is paying a $250,000 bonus dividend to its members.
  • HARRISBURG, Penn.—Pennsylvania State Employees CU has issued a Special Membership Reward totaling $22 million, the CU’s largest-ever giveback.
  • PHOENIX–Arizona Federal has announced an end-of-year bonus through Plus Payouts, the credit union's revenue-sharing program. The $6.5 million payout, the largest in the program's six-year history, brings the total paid to members to more than $36 million.
  • JACKSON, Mich. — CP Federal Credit Union has announced the largest giveback to members in its history with a 5% interest rebate and bonus dividend, in addition to a $300,000 donation to the Jackson Community Foundation.
  • MONTGOMERY, Ala.–Guardian Credit Union here has announced an Interest Rebate and Dividend Bonus totaling $587,660.
  • LUTHERVILLE, Md.–First Financial FCU here has announced it is paying out $2 million in Loyalty Rewards to members. The amount awarded to each member is based on the products and services each member utilized throughout the year.
  • LOS ANGELES–Firefighters First Credit Union has announced it is paying a year-end bonus to members of $2 million.
  • WOODBURY, Minn.–Ideal Credit Union has returned 10% of its 2018 earnings to members who participate in its VIP+ Program. In all, some 4,390 VIP+ members were paid cash dividends between $50 and $600, with the total payout for 2018 being $546,200.
  • WATERFORD, Conn.– Charter Oak FCU said it has awarded more than $575,000 in annual $100 cash bonuses to its Gold Rewards members, which is the highest amount ever paid since the unique program began nine years ago.
  • JAY, Maine—OTIS Federal Credit Union said it has paid its members an 8% bonus dividend and interest refund, resulting in a total payout of $392,239.
  • OKLAHOMA CITY, Okla.– True Sky Credit Union said it is paying out  year-end interest rebates and dividends of $96,716 to more than 50,000 members. 
  • MIDLAND, Mich.– Dow Chemical Employees’ Credit Union announced it is paying out $19.4 million as part of its Member Giveback for 2018, with funds being returned to members in the form of rebates and rewards.
  • LENEXA, Kan.– CommunityAmerica Credit Union said it has returned $8.4 million as part of its annual “Profit Payout.”
Section: Standard
Word Count: 1149
Copyright Holder: CUToday.info
Copyright Year: 2019
Is Based On:
URL: https://www.cutoday.info/Fresh-Today/CUs-Surpass-177-Million-In-Givebacks-To-Members-In-2018