SOUTHFIELD, Mich. – The $2.7 billion CenCorp declared a $400,000 patronage dividend to members last month. The dividend was to be paid as part of the dividend on Member Capital Share Deposit (MCSD) accounts in December 2003. The December dividend on that account was 6%. Including the patronage dividend, the rate by CenCorp on the MCSD account averaged about 50 basis points over a three-year US Treasury security during 2003. CenCorp serves 440 CUs, primarily in Michigan.
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