ORNL FCU Distributes $4 Million Special Dividend and Pays Off Auto Loans for Four Members
October 25, 2019
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Oak Ridge, Tenn. – For the second year in a row, the ORNL Federal Credit Union (ORNL FCU) Board of Directors approved a special dividend to be shared across the membership. Members were paid based on the depth of their ORNL FCU relationship, i.e. their total loan and deposit balances. The $4 million special dividend was issued to members on Friday, October 18. In 2018, the ORNL FCU Board paid a $3 million special dividend to members for the first time since 2005.
“The Credit Union continues to experience strong growth and good earnings,” said Randy Gorman, chair of the ORNL FCU Board. “The special dividend shared across the membership is one way we return value and express appreciation to our members.”
As part of the $4 million special dividend announcement, the Board acknowledged that four randomly-selected members would also have their auto loan balances paid off in full. In addition to paying these auto loan balances, the Credit Union provided each of the winning members with a check to cover the estimated taxes they would owe on the value of their loan payoff.
The Credit Union hosted the winners at a presentation ceremony and reception on Wednesday, October 23. Members whose auto loan balances were paid in full were Nakita and Ronald Delfino of Knoxville, Tenn.; Travis and Elizabeth Hutchison of Andersonville, Tenn.; Matthew and Elisha Roper of Madisonville, Tenn.; and Kristi Wagner of Sweetwater, TN.
“I thought it was a scam. I went to my branch and verified, then I called him back to apologize for being so short with him on the phone.” Matthew Roper, member for 10 years
“I still didn’t believe it until my loan balance was zero.” Travis Hutchison, member for 25 years
“When I received the phone call from Mr. Anderson…I thought I was dreaming. I appreciate everything that’s happened with this. It’s quite a blessing.” Kristi Wagner, member for one year
“Now that we have our car paid off, we’re going to not panic about a 1st birthday party for our little boy, Christmas, and then three weeks later a birthday party for our daughter. So everything is kind of, just easier through the month.” Nakita Delfino, member for three months
For more information about the special dividend, auto loan payoff, or pictures from the presentation ceremony, please contact Jessica Emert at jemert@ornlfcu.com.
For ORNL FCU logos and branding specs, please visit ornlfcu.com/branding.
ORNL Federal Credit Union is a not-for-profit financial cooperative locally owned and operated by its members for the benefit of all who belong. Established in 1948 with 10 founding members, ORNL Federal Credit Union’s assets have grown to over $2.25 billion and membership has grown to over 169,000. Open to businesses and anyone who lives, works, worships, or attends school in the 16 counties of Central East Tennessee, ORNL Federal Credit Union currently serves members in multiple branches located throughout Anderson, Blount, Campbell, Hamblen, Knox, Loudon, Monroe, Roane, Sevier, and Union counties.