A record $50 million Extraordinary Dividend was approved by CEFCU’s Board of Directors and distributed to the Credit Union’s member/owners. The amount each member received was determined by dividends earned and interest paid during the first 11 months of the year. On the evening of November 30, funds were deposited to members’ Savings accounts.
Over the last 19 years, CEFCU has returned $280 million in Extraordinary Dividends to members. CEFCU Board Chairman, Todd Gwillim, stated, “Because of members’ continued loyalty and trust, CEFCU has had another strong year. For 2018, that success resulted in members receiving the largest Extraordinary Dividend in CEFCU’s history! The Extraordinary Dividend is a perfect example of what makes CEFCU Not a bank. Better.”
Mark Spenny, CEFCU President/CEO, added, “Credit Unions exist for members, not for profit. When business is good, those benefits are returned to the member/owners, and the Extraordinary Dividend is just another affirmation of CEFCU’s commitment to members. It is rewarding to directly share our financial success with members, the people that made it happen.”
Members can learn more about this year’s Extraordinary Dividend at cefcu.com/dividend.
With assets totaling nearly $5.9 billion, CEFCU serves over 336,000 members through 22 central Illinois Member Centers and 5 California Member Centers; the CEFCU Financial Center; the Money Center 24 ATM Network; CEFCU’s website, cefcu.com; the surcharge-free CO-OP ATM Network; and the CU Service Center Shared Branch Network.