SAFE Federal Credit Union gives back more than $1 million to members
SUMTER, SC (January 5, 2017) — SAFE Federal Credit Union members received extra benefits December 31, 2016 when bonus dividends and loan interest rebates totaling more than $1 million were posted to accounts.
Deposit accounts, including certificates, received a 10 percent bonus based on dividends received in 2016. Loan accounts (except credit cards) received a four percent rebate based on total interest paid in 2016. The unique structure and philosophy of credit unions makes it possible for our Board of Directors to declare year-end bonus returns. Credit unions are not-for-profit financial cooperatives owned solely by members, so borrowers and savers alike share in the earnings.
The Board of Directors is delighted to be able to provide this extra return to members, on top of the competitive rates they have received all year. It’s just another way to show members that their money is better here.
SAFE has paid bonus dividends and loan interest rebates annually for the past 21 years.
About SAFE Federal Credit Union
SAFE Federal Credit Union, founded in 1955, is the largest credit union based in the Midlands, with $1 billion in total assets, 124,000 members, and 17 branches. Membership is open to anyone who lives, works, worships, or goes to school in Sumter, Lee, Clarendon, Kershaw, and Florence counties, as well as parts of Richland, and Lexington counties. Membership is also open to employees of more than 500 companies located throughout the Midlands and relatives of those eligible to join. Connect with us at www.SAFEfed.org, on Facebook.com/SAFEfederalcreditunion or @SAFEFCU