KINGSPORT, TENN. — Eastman Credit Union announced over the weekend that it will issue a $10 million extraordinary dividend to members as a reward for doing business with the CU.
"Exciting doesn't begin to describe how we feel about announcing that ECU is giving back $10 million to members," said Olan Jones, president and CEO of the $3.2 billion CU, in a statement. "We've exceeded expectations again with this year's payout."
Jones added that, including this year's payout, which will be issued in January 2016, ECU has now returned about $80 million to its membership through extraordinary dividends since 1998.
"Our members do business with us because they trust us, they know we will save them money, and we do," Jones noted. "Our board of directors realizes that our members are our most important asset. That's why they approved this awesome payout."
The extraordinary dividend payout is based on the interest paid on loans and earned on deposits by members in good standing throughout the year, according to the credit union.
"We have members all around the world who, collectively, make up ECU. They borrow with us, save their money with us, and we do everything that we can to give back to our members whether it's through dividends, convenient locations, or better products and services," said Jones.
