A central Illinois-based credit union has given an extra $35 million to owners. Peoria-based CEFCU said in a news release the extraordinary dividend reflects strong financial results. Credit unions are member-owned and participate in profits.
“CEFCU’s strong financial results and continued member loyalty have made another Extraordinary Dividend available for members,” said CEFCU Board Chairman Angel Martinez.
CEFCU has given $415 million to members over 22 years, the credit union said.
The amount each member received was determined by dividends earned and interest paid during the first 11 months of the year.
“Thank you to members for your continued support, and to CEFCU staff for providing outstanding member service while maintaining operational efficiencies,” said Matt Mamer, CEFCU president/CEO.
CEFCU has more than $7.6 billion in assets and nearly 380,000 members. CEFCU operates in Illinois and California in 32 branches including three in Bloomington-Normal and six in the Peoria area. CEFCU also has member centers in Lincoln, Canton, Eureka, Springfield, Decatur, and the Metro-East area in Southern Illinois.
