Founders pays $4.5 million Loyalty Dividend to members
December 1, 2016
Founders Federal Credit Union distributed a $4.5 Million Loyalty Dividend to its members on December 1. The Loyalty Dividend posted to approximately 117,000 qualified member accounts, based on their relationship with the credit union. The Loyalty Dividend is designed to reward member loyalty each year.
This is the fourth year in a row Founders has paid out their Loyalty Dividend. Over the past 24 years, Founders has paid out more than $50 million in bonus and Loyalty Dividends to its members.
Bruce Brumfield, President and CEO of Founders, is excited about the Loyalty Dividend program and believes it is the right thing to do for members. “Our members are the reason for Founders success and we believe in rewarding members who are loyal to the credit union.”
Brumfield also says, “Our Loyalty Dividend is another way we differentiate ourselves from other banks and credit unions and continually put our members first.”
Members in good standing qualified for the Loyalty Dividend based on the amount of interest they have paid on loans or dividends earned on deposits since January 1, 2016.
Members in good standing with an active Founders Checking Account and Direct Deposit received a percentage of year-to-date interest paid and dividends earned or a minimum of $10 as long as their Checking Account had activity during the month of November 2016.
A Loyalty Dividend calculator is located at RelaxLoyaltyPays.com for estimation purposes. While the credit union expects to distribute the Loyalty Dividend every year, criteria and payouts will vary from year to year.
About Founders Federal Credit Union
The credit union, one of the largest and most innovative in the nation, was founded in 1950 in Fort Mill, South Carolina to provide financial services to the employees of Springs Industries, Inc. Founders now serves over 200,000 members with 27 offices and three service centers in North and South Carolina. The credit union has over $1.9 billion in assets. Founders Federal Credit Union is federally insured by NCUA.
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