Press
AMOCO gives back $1 million in bonus dividends
TEXAS CITY, TX (January 8, 2015) — There are a million ways to show someone your gratitude; one way AMOCO showed their appreciation was by giving their members $1 million back in bonus dividends and loan interests.
To end 2014 and to start off the new year with a bang, AMOCO’s Board of Directors decided to pay $1 million back to their members. This is AMOCO’s 19th consecutive year to give back to their loyal and supportive members. For over 77 years, AMOCO has adhered to conservative operating policies and procedures centered on safety and soundness. Fortunately, AMOCO had both reserves and capital in excess of what was needed to protect member accounts. A 5 percent bonus on dividends earned on deposits and/or interest paid on loans for accounts in good standing as of December 31, 2014 were awarded back to the members.
“People helping people” is every credit union’s philosophy. AMOCO fully embraces the philosophy by showing their cooperative spirit by facilitating money back to the “people” who believe in them.
AMOCO Federal Credit Union is a member-owned cooperative organization. AMOCO’s mission is: To Serve and Satisfy Our Members, and has done just that for more than 77 years. AMOCO strives to provide the best products and services available to its members by offering low loan rates and little to no fees. For more information, please contact Jerica McClain at 281-534-5515 or jmcclain@amocofcu.org.