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CEFCU issues 7 million dividend to members
SAN JOSE, Calif. (12/16/09)--Citizens Equity First CU (CEFCU) will be issuing a $7 million dividend to members, including members of Valley CU, which CEFCU acquired after Valley was placed into conservatorship last year. Valley CU is now a division of CEFCU. Peoria, Ill.-based CEFCU told The San Jose Business Journal Tuesday that savings and loan activity in 2009 was strong enough to give the dividend to its 268,000 members. Loan volume at Valley’s three branches in November increased about 3,000% to $3.4 million, up from $109,000 in November 2008. CEFCU has $4.17 billion in assets. When Valley CU, San Jose, Calif., was acquired by CEFCU, it had $257 million in assets and 30,000 members.


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