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AMOCO Federal Credit Union Pays Out Approximately $1,000,000 to its Membership
AMOCO Federal Credit Union Pays Out Approximately $1,000,000 to its Membership
TEXAS CITY, Texas (December 31, 2012) – AMOCO Federal Credit Union is proud to announce some great news for their member/owners. For the 17th consecutive year, the Board of Directors at AMOCO Federal Credit Union voted to pay out approximately $1,000,000 in bonus dividends and loan interest refunds to its membership.
For over 75 years, AMOCO has adhered to conservative operating policies and principles centered on safety and soundness. As this year comes to a close, the Board of Directors have once again determined that the credit union’s level of both reserves and capital are in excess of what is necessary to protect member accounts. As a result, they have elected to pay out approximately $1,000,000 and issued a 5.00% bonus on the dividends earned on deposits and/or interest paid on loans and credit cards for accounts in good standing as of December 31, 2012.
This distribution is more than a deposit into a member’s account. It’s another way for AMOCO to express their sincere appreciation to its membership for their support and on-going participation in the credit union. Most importantly, this act reinforces the cooperative spirit of AMOCO Federal Credit Union. AMOCO thanks their members for continued support and loyalty and look forward to serving their financial needs for generations to come.
AMOCO Federal Credit Union is a member-owned financial organization. AMOCO‘s mission is to “serve and satisfy its members” and has done just that over the past 75 years. AMOCO strives to provide the best products and services available to its members by offering low loan rates, higher dividends and higher savings rates. For more information, please contact Adrienne Putnal, marketing specialist for AMOCO Federal Credit Union, at 281.534.5513 or aputnal@amocofcu.org.
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