In a move that reflects its strong financial performance and commitment to member value, CenturyFirst Federal Credit Union in Hattiesburg, Miss., recently returned a bonus dividend to approximately 11,000 members.
The bonus dividend follows several years of thoughtful planning by the credit union’s management team and board of directors, who have long hoped to share the credit union’s success directly with its members. Once the credit union’s equity reached a certain threshold, leadership determined it was time to return a portion of that equity to the membership.
“Credit unions are built to serve their members, and this bonus dividend is one way we can put that philosophy into action,” said John Harmond, president and CEO of CenturyFirst Federal Credit Union. “Our financial strength made it possible to give back in a meaningful way, and we are proud to share this success with the members who made it possible.”
While some members may choose to keep the bonus dividend in savings, credit union leaders hope it also provides flexibility for household expenses, summer activities or other personal needs.
“We know every member’s situation is different,” said Harmond. “For some, this dividend may simply add to their savings. For others, it may help with monthly expenses or allow them to do something special with family and friends. Either way, we’re pleased to be able to return value directly to our members.”
The credit union has celebrated the announcement across multiple channels, including branch lobby signage, its annual meeting, statement messaging, the mobile app and website.
Member response has already been positive. According to one branch manager, a member recently shared that the bonus dividend “was great” and said it made her feel “happy and proud of the credit union.”
As not-for-profit financial cooperatives, credit unions are uniquely positioned to return earnings to members through better rates, lower fees, and, in some cases, bonus dividends such as this one. For CenturyFirst Federal Credit Union, the payout is both a celebration of financial success and a reminder of the credit union difference in action.
For more information about CenturyFirst Federal Credit Union, visit centuryfirstfcu.com.
