Credit Unions That Distrubute Bonus Dividends To Customers.

murr9506 | May 17, 2019 | 19 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.

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Answers

OAG | May 17, 2019 | 23 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 | May 17, 2019 | 19 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

hank | May 19, 2019 | 110 posts since 2016

police and fire fcu in PA does it

willy12 | May 17, 2019 | 143 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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