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Tenn. CU gives back 1 million to members
CLARKSVILLE, Tenn. (12/9/09)--A Tennessee credit union will be giving $1 million in patronage dividends back to its members this year. The $334.2 million asset, Clarksville, Tenn.-based Fort Campbell FCU’s more than 36,600 members will see the patronage dividend deposited into their share savings accounts this week, the credit union said (The Leaf-Chronicle Dec.8). “We have given over $6 million back to members of the credit union over the past five years alone and we're so proud to be able to continue this tradition,” said Stewart Ramsey, Fort Campbell president/CEO, in a prepared statement. The amount that each member will receive is based on length of membership and number of services used, including checking, loans and online banking. “Credit unions are unique in the financial services industry in that they are cooperatives and therefore members directly benefit when the credit union has a successful year,” Ramsey told the paper. “Without stockholders to pay, Fort Campbell FCU is able to return those savings to members. “We are committed to investing in our community and giving back to our members, because the credit union was started here in 1954 and our members and employees call this home,” Ramsey concluded.
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