CEFCU MEMBER/OWNERS RECEIVE $7 MILLION DIVIDEND
CEFCU's Board Of Directors is pleased to announce that an extraordinary dividend of $7 million has been distributed to CEFCUmember/owners. This dividend was based on members' savings and loan activity during the year 2009, with $3.5 million going to borrowers and $3.5 million going to savers. The amount each member received was determined by dividends earned and interest paid during the first 11 months of the year, as of November 30, 2009. On December 14, dividends were deposited to members' Savings accounts.
Since 2000, CEFCU has returned $40 million in extraordinary dividends to members. CEFCU Board Chairman, Reed Stuedemann, stated, "I'm extremely pleased to announce that, even in the challenging economic climate of 2009, CEFCU remained strong and provided over 265,000 member/owners with a safe financial shelter. Results such as that only validate the superior value and sustainability of CEFCU's member-owned cooperative business model, where borrowers help savers and savers help borrowers. And, as an owner of CEFCU, when business is better than anticipated, the benefits are returned to the member/owners because it's their money!"
Mark Spenny, CEFCU President/CEO, added, "Your Credit Union's sustainable lending and investment practices continue to produce strong earnings and capital, resulting in another extraordinary dividend shared between CEFCU borrowers and savers. As a not-for-profit financial cooperative, CEFCU's focus is the member/owners. That's the credit union difference, and why I believe more and more people are choosing CEFCU."
With assets totaling nearly $4.2 billion, CEFCU serves over 265,000 members through 19 Central Illinois Member Centers; Valley Credit Union,a division of CEFCU; the CEFCU Financial Center; the Money Center 24 ATMNetwork; CEFCU's Web site, www.cefcu.com<http://www.cefcu.com>; andcefcu.mobi.
Since 2000, CEFCU has returned $40 million in extraordinary dividends to members. CEFCU Board Chairman, Reed Stuedemann, stated, "I'm extremely pleased to announce that, even in the challenging economic climate of 2009, CEFCU remained strong and provided over 265,000 member/owners with a safe financial shelter. Results such as that only validate the superior value and sustainability of CEFCU's member-owned cooperative business model, where borrowers help savers and savers help borrowers. And, as an owner of CEFCU, when business is better than anticipated, the benefits are returned to the member/owners because it's their money!"
Mark Spenny, CEFCU President/CEO, added, "Your Credit Union's sustainable lending and investment practices continue to produce strong earnings and capital, resulting in another extraordinary dividend shared between CEFCU borrowers and savers. As a not-for-profit financial cooperative, CEFCU's focus is the member/owners. That's the credit union difference, and why I believe more and more people are choosing CEFCU."
With assets totaling nearly $4.2 billion, CEFCU serves over 265,000 members through 19 Central Illinois Member Centers; Valley Credit Union,a division of CEFCU; the CEFCU Financial Center; the Money Center 24 ATMNetwork; CEFCU's Web site, www.cefcu.com<http://www.cefcu.com>; andcefcu.mobi.
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