MADISON, Wis. (1/14/16)--Credit unions large and small are again rewarding members with dividend dollars this year for their ongoing support and commitment to the cooperative business model.
Even credit unions such as Gas and Electric CU, Rock Island, Ill., which earned a net income of $625,000 in 2015, has paid back its members. And in a large way.
The credit union will return roughly 40% of its net earnings back to the membership this year.
“As a credit union, we are owned by our members,” said Daryl Empen, Gas and Electric president (The Quad-City Times Jan. 9). “So when we have a successful year, we feel it is important to give back to the members responsible for that success.”
In his weekly report, Jim Nussle, president/CEO of the Credit Union National Association, said: “It’s one of the defining differences of the cooperative business model that credit union members enjoy over bank customers: members’ economic participation, the returning of capital through extraordinary dividend payments.”
Additional examples of credit unions rewarding their members: