Qualified members of the $3 billion, Dearborn, Mich.-based DFCUFinancial will receive an estimated total of $21 million individend payouts, equivalent to half of DFCU Financial's annualearnings, on Jan. 4, the credit union announced this week.
|DFCU Financial said this is the seventh consecutive year it has returned half of its earningsto members and that it's the largest dividend paid by any creditunion in the country. Since 2006, the credit union has returnedmore than $130 million to members, DFCU Financial said.
|“The cash payout to members is our way to thank them forchoosing DFCU Financial as their primary financial institution,”said Mark Shobe, president/CEO for DFCU Financial. “Our team workshard to operate an efficient, well-managed organization, which isthe reason we can offer this unique benefit of membership.”
|Individual dividend payments will be equal to 0.5% of members'average yearly loan and deposit balances, including all savingsaccounts and loan balances. Each qualified member will receive atleast $50, the credit union said.
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Natasha Chilingerian
Natasha Chilingerian has been immersed in the credit union industry for over a decade. She first joined CU Times in 2011 as a freelance writer, and following a two-year hiatus from 2013-2015, during which time she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union), she re-joined the CU Times team full-time as managing editor. She was promoted to executive editor in 2019. In the earlier days of her career, Chilingerian focused on news and lifestyle journalism, serving as a writer and editor for numerous regional publications in Oregon, Louisiana, South Carolina and the San Francisco Bay Area. In addition, she holds experience in marketing copywriting for companies in the finance and technology space. At CU Times, she covers People and Community news, cybersecurity, fintech partnerships, marketing, workplace culture, leadership, DEI, branch strategies, digital banking and more. She currently works remotely and splits her time between Southern California and Portland, Ore.
