ECU's $12 Million Extraordinary Dividend Largest In History
December 11, 2016
KINGSPORT - Who gives back $12 MILLION as a year-end bonus? Eastman Credit Union (ECU) does!
ECU’s Extraordinary Dividend has grown to a better than ever, record-breaking $12 million. The January payout marks the nineteenth year and more than $92 million in Extraordinary Dividends paid to members since 1998.
“Over the past several years, ECU has announced several record-breaking extraordinary dividend pay-outs. It’s awesome to make such an economic impact. Last year was phenomenal, but this year is even better. We owe it all to our loyal members, dedicated staff, and volunteer board of directors,” said Olan Jones, ECU’s CEO and president.
Members receive this bonus based on their loyalty to ECU through the amount of interest they’ve earned on deposits and paid on loans over the course of the year. It’s a difference that is well known by members who do business at ECU.
“We are fortunate to have a board of directors who sees the benefit of rewarding our members for having their accounts at ECU,” said Jones.
“It’s not uncommon for members who have several loans and deposits with ECU to receive a few hundred dollars in Extraordinary Dividends,” said Jones. “Receiving the January Extraordinary Dividend is a nice way to start off the New Year.”
ECU members enjoy great loan rates, higher than average deposit rates, access via latest technology, great ATM and branch locations, and a fantastic variety of products and services. The Extraordinary Dividend rewards members in a unique way that is uncommon for most financial institutions.
“People who don’t have all of their loans and deposits with ECU really don’t understand what they’re missing,” said Jones.
All deposit and loan accounts, including certificates of deposit, checking accounts, credit cards, auto loans, and mortgages, count toward the Extraordinary Dividend members receive.
The 2016 year-end bonus is set to be paid in January 2017 as an automatic deposit to members’ accounts.
About Eastman Credit Union
ECU is the largest credit union in the state of Tennessee and one of the largest credit unions in the country with more than $3.5 billion in assets. ECU is a not-for-profit, financial service cooperative serving more than 175,000 members at 25 branches. Credit Union members have access to more than 55,000 free ATMs nationwide and a wide range of financial services, including free checking and free online banking. For additional information about ECU, visit our website or call 800.999.2328.