A record $40 million Extraordinary Dividend was recently announced by CEFCU’s Board of Directors and will be distributed to the Credit Union’s member/owners. The amount each member will receive was determined by dividends earned and interest paid during the first 11 months of the year, as of November 30, 2014. On December 16, dividends will be deposited to members’ Savings accounts.
Over the last 15 years, CEFCU has returned $115 million in Extraordinary Dividends to members. CEFCU Board Chairman, Brad Arnold, stated, “This Extraordinary Dividend is the largest in the history of the Credit Union. CEFCU continues to see strong financial results, and this success is due in no small part to the continued loyalty of member/owners.”
Mark Spenny, CEFCU President/CEO, added, “CEFCU is a strong financial institution. Members handle their finances in an extremely responsible manner, which means the Credit Union has low loan losses. In addition, members are very loyal, and are committed to doing more of their business with CEFCU. As a member-owned financial institution, the Credit Union’s staff and the volunteer Board of Directors work diligently to keep the best interest of member/owners at the forefront of every decision we make. When a credit union’s business is even better than projected, members share in those benefits — which this year resulted in a $40 million Extraordinary Dividend! It’s members’ money, and that is what makes CEFCU not a bank. Better!”
Members can learn more about this year’s Extraordinary Dividend from CEFCU’s President/CEO, Mark Spenny, at cefcu.com/dividend.