Credit Unions That Distrubute Bonus Dividends To Customers.

murr9506
murr9506   |     |   12 posts since 2016

Founders Federal distributes a portion of its profits in the form of dividends to it's customers once per year. I occasionally read about another credit Union that does this. Is there an online list, or has anyone compiled a list, of Credit Unions that do this? Thanks so much.



Answers
OAG
OAG   |     |   21 posts since 2010
Do not know of any list but Wright Patterson FCU does it annually around the first of January each year. Be advised the payment is counted as Taxable and is included on the 1099-Int in the year which it is PAID.
murr9506
murr9506   |     |   12 posts since 2016
With some further research, it does appear that in 2014 seven credit unions were noted as providing annual dividends. I don't know if they all still do or if there are others. Copy and paste:
https://www.depositaccounts.com/blog/2015/01/credit-unions-paid-2014-bonus-dividends.html
QED
QED   |     |   95 posts since 2013
Empower FCU does this at Christmas time. The bonus can amount to a tidy sum, or not, depending of course upon how much business you have done with the credit union during the year.
hank
hank   |     |   73 posts since 2016
police and fire fcu in PA does it
diamondx
diamondx   |     |   138 posts since 2011
Dupaco CCU in Iowa has a program that rewards their customers for saving, borrowing etc. Cash is paid once a year to the customer depending on certain uses of cc, loans, deposits.
willy12
willy12   |     |   120 posts since 2019
I think Heritage South CU of Alabama paid out an extra dividend last year. Cannot remember the exact amount but it was not material enough for me to keep doing their RCA as rates rose. I think they only pay 3%?.

My account is still open but I don't expect much in the future without the $15k on deposit.

I remember calling them and they said they have been doing it every year for awhile now.


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