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8 Cus Pay Out Nearly $20M In Special Dividends

cumulus
  |     |   1,266 posts since 2010

Eight credit unions from Albuquerque, N.M., to Washington, D.C. have announced $19.9 million in special dividends, including a San Francisco Bay-area credit union paying one for the first time.

https://outline.com/R73JPT

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2


Rickny
  |     |   1,298 posts since 2017
U'm a member of several credit unions. Never received a special dividend.
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1
Choice
  |     |   937 posts since 2020
Thanks for sharing link…I sent it to a couple of contacts at CUs I belong to.  We’ll see if I’m special. :)
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1
cumulus
  |     |   1,266 posts since 2010
The thing that 'jumps-out' on this list of CU's, is that NONE of them
would appear on a list of (CD) rate leaders! So is this is an
either/or situation---if they pay dividends, forget leading rates?
(I realize most/lots of CU's do neither.)
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1
alan1
  |     |   880 posts since 2015
cumulus -- thank you for bringing this to our attention and, especially, for the outline link.

I do recall articles about a couple of institutions on the list appearing on depositaccounts.com; Nusenda and Heartland did offer competitive CDs in the not-so-distant past.
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1
Kaight
  |     |   1,192 posts since 2011
Only one of my credit unions, Empower, does this. They sent me a few hundred dollars at the close of 2021. The size of my special dividend depends on the amount of business I do with them during the year. It varies from year to year, as does the percentage they declare. It has been as high as sixteen or seventeen percent. This year is was ten percent. Still, I have no complaints. Something is better than nothing.
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1
jack12
  |     |   307 posts since 2021
I have a local credit union that has been paying special dividends every year - mine did not make the list

They don't make a big deal of it- it just shows up in your account

I think its based on how much you have on deposit on average- and I only use this CU for a RCA so I only have $15k with them---plus the $25 share account minimum

That CU purportedly matches others rates on CDs but when I last asked about that they were supposed to get back with me but never did

I think he said they had to ask the president

And since their regular CD rates are so low I did not try again thinking they will probably say no
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