Missouri Central Credit Union in Lee's Summit, Mo., paid out $100,000 to members in a bonus dividend.
The dividend, which was distributed in January, is the largest the credit union has ever issued. Missouri Central has paid out $350,000 over the past five years.
“Paying a member bonus dividend is the best way we can show our member/owners that Missouri Central Credit Union is different other financial institutions,” President Glenna Jarvis said in a statement. “We’re laser focused on loans and checking accounts.”
The $56 million-asset institution serves 8,500 members and offers an incentive program for both full-time and part-time staff that issues quarterly payments toward checking and loan growth.
The credit union earned $339,486 in 2018, a 60.2 percent increase year over year, according to their latest call report.
