Sandia Laboratory Federal Credit Union of Albuquerque, N.M., haspaid $10 million in dividends to members, while two other creditunions announced annual dividends worth a total of $5.9million.

Sandia Laboratory FCU ($2.32 billion in assets, 83,553 members)paid the special dividend Dec. 2 based on the dividends membersalready earned on all deposit accounts, including IRAs, for thepast 12 months.

President/CEO Robert Chavez said the credit union “has weatheredthe tough economic times of the last several years and has builtits reserves beyond the point of what's needed for adequate safetyand soundness, so we're returning a portion of the reserves back toour members.”

Sandia Laboratory FCU, New Mexico's largest credit union,announced plans in October to merge with the state's fourth-larges –Albuquerque-based Kirtland Federal Credit Union ($763 million inassets, 46,767 members). Assuming member and agency approvals, themerger might not be completed until 2018.

Founders Federal Credit Union distributed a $4.5 million annualdividend to its members Dec. 1. The Lancaster, S.C.-based creditunion posted the dividend to about 117,000 member accounts based onthe amount of interest they have paid on loans or dividends earnedon deposits since Jan. 1.

This is the fourth year in a row Founders ($2.0 billion inassets, 209,537 members) has paid out their Loyalty Dividend. Over the past 24 years, Founders has paid outmore than $50 million in bonus and Loyalty Dividends to itsmembers.

The credit union was founded in 1950 to provide financialservices to the employees of textile manufacturer SpringsIndustries, then based in Fort Mill.

Goldenwest Federal Credit Union based in Ogden, Utah, announcedit will pay members a $1.4 million annual bonus dividend Dec.31.

The credit union's board approved the one-time dividend inNovember. It is based on a 4.15 annual percentage yield applied toeach member's average daily balance of shares during 2016. For 13consecutive years, Goldenwest ($1.22 billion in assets, 112,165members) has collectively returned $9.4 million to members throughthe bonus dividend program.

“The active participation of members both borrowing and savinghas contributed to a year of strong growth and productivity forGoldenwest,” President/CEO Kerry Wahlen said.

Goldenwest announced in October that it plans to merge with Salt Lake City-based Health Care Credit Union ($76million in assets, 7,603 members). The deal is expected to becompleted by the end of March 2017.