TTCU Announces $3.2 million in Member Rewards Dividends
TTCU Federal Credit Union announced that they paid out over $3.2 million in member rewards dividends in 2019, an eight percent increase over 2018 payouts after an especially strong year for the credit union.
TTCU hit a big milestone in 2019, reaching $2 billion in total assets, thanks in part to an 8 percent growth in deposits. The percentage of members who have a TTCU checking account also
rose to 53 percent.
Since TTCU's member rewards payments are based on active checking accounts, loan balances and deposit balances, this led to the increase in the dividend payout. The dividend is paid quarterly to qualifying TTCU members.
"TTCU's member rewards program is unique in that we pay members for both deposit and loan balances," Chief Financial and Technology Officer Shelby Beil said.
Past dividend rates are not a guarantee of future dividend rates.
Rewards dividend requirements are available online.