Centra Credit Union announces special dividend payment
COLUMBUS, IN (January 12, 2022) — Centra Credit Union announces a total special dividend payment of $1.5 million to Centra Members. Since Centra is a credit union, Centra Members are also owners of the Credit Union and the beneficiaries of Centra’s profits.
The special dividend payment will be made later this month and was made possible through favorable financial conditions in 2021. These conditions included unique events that are not anticipated to reoccur in 2022. Based on 2021’s financial performance, Centra’s Board of Directors and management team decided to return profits to Members.
The special dividend, known as a Member Loyalty Bonus, will be paid out to eligible Members through Centra’s Member Loyalty Rewards. Bonuses, or special dividend payments such as this one, are deposited into Member Loyalty Accounts, which are high interest savings accounts designated for Members’ cash rewards. More information about Member Loyalty Rewards can be found at https://www.centra.org/about/member-loyalty-rewards/.
This is the second special dividend payment Centra has issued in the past year. On May 17, 2021, Centra paid out a total of $2 million in special dividends with the launch of the all-cash Member Loyalty Rewards. Following these special dividend payments, Centra maintains a strong financial profile, including a strong capital position.
About Centra Credit Union
Centered around its Members, Centra Credit Union is a community-based, full-service financial institution with 26 service centers throughout central and southern Indiana, and in Jamestown, New York and Whitakers, North Carolina. Founded in 1940 on the principle of People Helping People, Centra strives to create value for Members, Team Members, and the Communities it serves. With more than $2 billion in assets, Centra is among the six largest credit unions in the state of Indiana.