Columbia Credit Union Returns Profits to Members
The New Year looks bright for Columbia Credit Union members who received an unexpected reward at year-end. Columbia doubled its dividend rates on shares for the fourth quarter of 2011, which resulted in a $9,000 member payout. To show appreciation for its borrowers, the credit union paid an interest rebate of 5 percent totaling more than $31,000.
“While this is not a lot of money in the grand scheme of things, especially for some of the bigger credit unions, it is significant for us,” says David Hendrey, Columbia president. “We wanted to show our appreciation to our membership for their loyalty.”