DEARBORN, Mich. (10/30/13)--DFCU Financial said Tuesday it will return a $23 million dividend to nearly 100,000 members at year-end.
The dividend is the largest payout in the eight-year history of the credit union's dividend program, and brings the total payout since the program's 2006 inception to more than $154 million. The credit union has paid out an average of $20 million for the past eight years.
"The economy may have struggled, but we have been able to give a larger sum of cash back to our members every year," said Mark Shobe, DFCU Financial president/CEO. "Our relationship with each individual member of DFCU Financial is extremely important to us. We want our members to know we care about them, and the fact that this dividend has been increasingly successful shows their loyalty."
Individual dividend payments will be equal to 0.5% of members' average yearly loan and deposit balances, including all savings accounts and loan balances. Each qualified member will receive at least $50, the credit union said.