Eastman Credit Union of Kingsport, Tenn. ($8.9 billion, 340,167 members) said it is paying members $16 million in January as an Extraordinary Dividend based on its strong financial performance.
Dow Credit Union of Midland, Mich. ($2.3 billion in assets, 82,348 members), is paying members $18.5 million in January as a Member Giveback. The amount represents about $225 per member and 83 basis points of its 0.69% return on average assets for the 12 months ending Sept. 30.
“Our long-standing tradition of sharing success by returning a portion of our earnings reflects our commitment to putting members first,” Goad said. “We always look forward to hearing how members plan to use their Giveback funds, whether it’s to take a dream vacation, tackle home improvement projects, or save for education and retirement goals.”
“To thank borrowers and savers for their loyalty, Eastman Credit Union’s board of directors has approved our Extraordinary Dividends since 1998,” Eastman President/CEO Kelly Price said.
Other credit unions announcing dividends were:
- Fort Liberty Federal Credit Union of Fayetteville, N.C. ($620.6 million in assets, 39,325 members), which paid members $1.1 million in December as a Loyalty Dividend. The amount represents about $29 per member and 19 bps of its ROA of 1.02% for the 12 months ending Sept. 30. Since 2018, it has given back nearly $6 million.
- Community Choice Credit Union of Denver ($98.5 million in assets, 6,701 members), which paid members about $134,000 Dec. 30 as a special dividend. The amount represents the $20 paid to each member and 14 bps of its ROA of 1.03% for the 12 months ending Sept. 30.
- Niagara’s Choice Federal Credit Union of Niagara Falls, N.Y. ($251.5 million in assets, 22,390 members), which paid members $170,000 Dec. 19 as a member loyalty payout. The amount represents about $8 per member and 7 bps of its ROA of 0.52% for the 12 months ending Sept. 30.
Niagara’s Choice President/CEO Daniel Keleher said bonus dividends and loan interest rebates were possible because of “the outstanding financial performance” of the credit union in 2024. “This loyalty payout is how we share the success of our credit union with our members,” Keleher said. “We wouldn’t be here without them.”
So far this season, CU Times has tallied 30 credit unions ($77.9 billion, 3.8 million members), which that have announced $188 million in special dividends. The amount represents about $49 per member and 25 bps of their 12-month ROA of 1.01%.
