Member-owners of Citizens Equity First Credit Union (CEFCU), which is based in Peoria and operates branches throughout Illinois and California, received distributions from a $40 million extraordinary dividend on Dec. 10.
“CEFCU is a credit union; a member-owned financial cooperative," CEFCU President and CEOr Mark Spenny said. "Operating as such allows CEFCU to share the benefits of a strong year with members and, again this year, those great financial results allowed for a $40 million extraordinary dividend. Thank you to members for your continued support, and to CEFCU staff for diligently providing members with superior service to ensure they can reach their financial goals.”
The amount of the distributions were calculated with dividends earned and interest paid during the first 11 months of the year, as of Nov. 30. Distributions were deposited directly into members' accounts.
To date, CEFCU has disbursed a total of $155 million to its members through extraordinary benefits.
“CEFCU’s strong financial results and continued member loyalty have made another large extraordinary dividend available for members," CEFCU Chairman Joe Needham said.