Members must be active in the credit union to receive the bonus dividend/interest rebate.Įmpower Federal Credit Union is a full-service financial institution that provides savings, loan, and transaction services to members in Central New York, and in eight counties in New York State. Members will see their bonus dividend and interest rebate posted on December 31, 2015. “The give-back is a way of sharing Empower’s success with its member-owners, and a way to thank them for their membership.” The amount each member receives represents a percentage on savings account dividends earned and a rebate on loan interest paid throughout the year. The changes that were implemented in 2015 will assist us in meeting the digital access needs of our members,” says Wakefield. “This year was marked with many projects, enhancements and the merger with FocalPoint FCU. According to Wakefield, credit unions are not-for-profit, so any excess profits are returned to the members in the form of better rates and service enhancements. Wakefield, president/CEO of Empower, reports strong financial performance in 2015 contributed to the increase in the giveback amount. For eight years in a row, Empower has given back a total of $20.75 million to our members. The credit union paid out $3.25 million in ‘give-back’ bonus dividends and interest rebates to reward Empower members for a successful year. SYRACUSE, NY (January 27, 2016) - Empower Federal Credit Union announces a $3.25 million ‘give-back’ for 2015. Empower Federal Credit Union announces $3.25 million ‘give-back’ bonus dividend & interest rebate
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