The Board of Directors of Auburn Community Federal Credit Union has declared an end of year Bonus Dividend and loan interest rebate in the amount of $100,000!
The Bonus Dividend was calculated based on the year-to-date interest you paid on your loans and year-to-date dividends you received on your deposits. The Bonus Dividend was paid to members in good standing.*
The amount of the Bonus Dividend you receive is based on how much business you conduct with the credit union. The same percentage is used for calculating the bonus dividend on both the shares and loans.
The more you save with the credit union during the year means the more dividends you will earn over the course of the year. The money you borrow from the credit union allows us to earn the interest needed to pay the dividends on your share accounts plus cover our operational expenses.
It should be noted that the Board does not have to declare a Bonus Dividend and is not required to do so, and it is never guaranteed for future years. The Bonus Dividend was declared in 2020 due to our members’ use of our loan products and share products resulting in a profitable year.
The Board of Directors of Auburn Community FCU would like to thank you for your business. We also want to let you know that your credit union is here for you to help you get through these challenging times.
*A member is not in good standing with the credit union and is ineligible to receive the bonus dividend if they have caused the credit union a loss due to loan and share charge offs, or having delinquent loans. VISA credit card loans are ineligible for the bonus dividend. Primary share accounts closed during the year are ineligible for the bonus dividend.