Over $2 million was dispersed among members’ accounts at First Financial of Maryland Federal Credit Union as part of a special dividend.
The Lutherville, Md.-based credit union gave cash rewards to members based on products and services used throughout 2018.
“Giving back to those who have made our year so successful is one of the most important and exciting things we do,” First Financial President and CEO Eric Church said in a statement. “There’s no better way to thank our members for the loyalty they have shown us throughout the year.”
The nearly $1 billion-asset institution posted net income of roughly $3.9 million through the first nine months of 2018, an significant increase from one year prior, when it earned about $2.4 million.
This year’s givebacks included a 10 percent rebate on interest paid on all non-real estate loans, along with a 1 percent cash rebate for members with First Financial Visa credit cards. An additional $100 in rewards was dispersed to members who participated in the CU’s 5-Star Member Rewards Program.
Thanks to the $2 million payout, members also pocketed a bonus dividend of 15 percent on all 2018 share account dividends.
“This is a great time to be a First Financial member, and the Loyalty Rewards are just the beginning,” Church said.
