CommunityAmerica Gives Back $5 Million to Members
Member Owner Return differentiates credit union from other financial institutions
Lenexa, Kan. (01/28/2013) – Kansas City-based CommunityAmerica Credit Union returned a dividend of $5 million back to its member-owners today. The 2013 Member Owner Return (MORE) marks the 14th consecutive year CommunityAmerica has given an annual payout back to its members. Individual payment amounts are based on the member’s use of the credit union’s products and services.
“During a time when people are losing income due to the recently expired tax legislation, we are pleased to demonstrate the credit union difference in a big way,” said Dennis Pierce, Chief Executive Officer for CommunityAmerica. “This year’s payout symbolizes five million more reasons why families who work or live in the KC metro area should join CommunityAmerica for their financial needs.”
Similar to banks, credit unions offer a full suite of products, including mortgages, lending and investments. However, credit unions are not-for-profit, member-owned and member-led financial institutions. Through this year’s Member Owner Return, members receive the credit union’s profit, unlike at other financial institutions, where profit often goes to stockholders.
“As a member-owned institution, members reap the benefits of our success,” Pierce said. “We consistently demonstrate this commitment throughout the year by offering competitive rates and exceptional products and services to help members achieve their financial dreams.”
About CommunityAmerica Credit Union
CommunityAmerica Credit Union is a full-service financial institution with more than 170,000 members nationwide. As of Dec. 31, 2012, CommunityAmerica had more than $1.8 billion in assets, ranking it among the nation’s largest credit unions. Based on deposits, CommunityAmerica ranks among the top 10 Kansas City-based financial institutions. There are 29 CommunityAmerica branches in Kansas City, and one branch in St. Louis.
CommunityAmerica provides a full suite of financial products, including checking, savings, money markets, mortgages and a variety of loan products to meet member needs. As a not-for-profit, member-owned financial institution, CommunityAmerica offers highly competitive rates on deposits, loans and investments, and fewer, lower and sometimes no fees at all. Other convenient products and services include a network of more than 28,000 ATMs, 24-hour online, telephone and mobile banking, Visa credit cards, insurance and financial planning. www.cacu.com.