Press
Credit union members benefit from successful 2014
— First Service CU Pays Members Patronage Dividend —
HOUSTON, TX (January 5, 2015) — First Service Credit Union, a Houston-based credit union, is paying out its first patronage dividend following a financially successful year in 2014.
“This patronage dividend is another example of how we can reward our members for their loyalty and participation,” says David Bleazard, president/CEO of First Service Credit Union. “For the first time, we are returning a portion of our earnings to our members based on the number of financial products and services they have used over the past year and the extent to which they have used them.”
Careful management of operational expenses and record-setting loan volume throughout the year produced better-than-expected earnings, providing First Service the opportunity to offer the unique patronage payout.
The dividend was paid to members with active accounts in good standing, and was based on several 2014 factors, including: interest paid on loans, dividends earned on deposit products, active use of debit and credit cards, usage of electronic and paperless services, and the total number of products and services in the relationship.
“Being part of a financial cooperative pays BIG,” adds Bleazard. “We are proud to show the true difference in credit union membership by showing that other financial institutions return their profits to shareholders and our profits go to our members.”
About First Service Credit Union
First Service Credit Union is a Houston-based, full-service financial services provider with over $525 million in assets. Established in 1977, First Service Credit Union today serves a diverse field of more than 52,000 members, including residents of Harris and Waller Counties, as well as employees of KBR, Halliburton, CenterPoint, Kinder Morgan, Baker Hughes, and over 140 other private companies. The 37-year-old institution delivers financial services to its members through 13 office locations. First Service Credit Union can be found online at www.fscu.com.