For the second year in a row, the $4 billion PSECU said it will issue a $10 million Relationship Reward toits membership.
|The Harrisburg, Pa.-based credit union said in a Thursdayrelease it generated 2013 earnings in excess of funds needed tocover operating expenses and capital reserves, prompting thepayout.
|Eligible members will receive a minimum payout of $10, with thefinal amount for each member determined by two components. Thefirst is usage of eligible products and services, which earns afixed dollar amount. The second component is a percentage payoutbased on both the amount the individual member and the entiremembership received in total dividends earned and interest paid inthe past year.
|“We're extremely pleased to be issuing the RelationshipReward for the second year in a row,” said President Gregory A.Smith. “It's one more benefit on top of the everyday value westrive to deliver. Thanks to our members, we're as strong as everand as a member-owned financial cooperative, it's only right thatwe give back to them.”
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