SAFE Federal CU Pays Out $1M to Members in Dividends & Rebates
January 12, 2018
SUMTER, South Carolina, January 12, 2018 – Members of SAFE Federal Credit Union received annual bonus dividends and interest rebates on December 31 totaling more than $1 million, based on their account usage.
The payments were based on members’ account usage. Deposit accounts, including certificates, received a 12 percent bonus based on dividends received in 2017. Loan accounts (except credit cards) received a three percent rebate based on total interest paid in 2017.
SAFE has paid more than $30 million in bonus dividends and interest rebates to its members over the last 20 years.
“The unique structure and philosophy of credit unions makes it possible for our Board of Directors to declare year-end bonus returns,” said Darrell Merkel, CEO of SAFE Federal Credit Union. “It’s one more way that we put members first in all that we do.”
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, 119,000 members, and 19 branches. Membership is open to anyone who lives, works, worships, or goes to school in Sumter, Lee, Clarendon, Florence, and Orangeburg counties, as well as parts of Kershaw, 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