U$X Federal Credit Union 2012 Member Loyalty Reward

U$X Federal Credit Union®, Cranberry Twp., PA.  In 2012, for the eleventh consecutive year, U$X Federal Credit Union’s ($200 million, Cranberry Twp., PA), Board of Directors announced to its member-owners that the Member Loyalty Reward payout would be $420,000.  The Member Loyalty Reward is an interest rebate given to members in good standing with deposit accounts and/or loan accounts, with the exception of select mortgages.  The Member Loyalty Reward was equal to 6 cents on every dollar of dividends earned and/or loan interest paid during 2012. With the addition of the 2012 dividend the total Member Loyalty Reward given back to the members of U$X FCU the past 11 years reached a grand total of  $6.6 million dollars.

“In the true spirit of credit unions, our Board of Directors instituted our Member Loyalty Reward program many years ago.  We believe that when the credit union is successful, it’s not only a sound business practice to reward the owners of the credit union and share our surplus, but that this practice clearly demonstrates “the credit union difference”.  Unlike many financial institutions, when U$X FCU has a successful year, we distribute part of the earnings to the people whose loyal support helped us be successful”, said David Ackerman, President/CEO of the 75 year old credit union.

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