CU24 distributes patronage dividends to shareholder credit unions
TALLAHASSEE, FL (August 25, 2014) — CU24, a national provider of services to credit unions, announced it will distribute $1 million in patronage dividends to its shareholder credit unions. As a credit union-owned cooperative, CU24 returns profits to credit union shareholders in the form of cash and equity certificates. The dividends will be distributed in the third quarter.
“The Board of Directors declared this patronage in accordance with our mission to help our credit unions compete and improve their members’ lives,” said Mansel Guerry, President and CEO of CU24. “The dividend is reflective of the company’s positive financial performance and the value of participation for credit unions of all sizes.”
CU24 has disbursed more than $17.5 million to credit union shareholders since the company’s inception.
In addition to patronage dividends, shareholders have a voice in the network’s structure and governance, including the development and enhancement of services that credit unions need to compete in an increasingly challenging financial services industry. “Now, more than ever, it is important for credit unions to be part of a credit union-owned organization,” said Guerry, “an organization that focuses on credit union interests as opposed to maximizing its own earnings.”
CU24 is a credit-union owned cooperative that provides a range of EFT and payment-related services tailored for small and midsize credit unions. CU24operates the largest credit-union POS network in the United States, and provides access to the largest network of surcharge-free ATMs. CU24‘s mission is to provide credit unions with the expertise and services they need to compete and improve their members’ lives. Through a range of tailored solutions, CU24 demonstrates that you don’t have to be big to be powerful. For more information, visit http://www.cu24.com.