Technology Slice Blog

Eglin Federal Credit Union - Empower Federal Credit Union announces a $2.5 million ‘give-back’ for 2010. The credit union is paying $2.5 million in ‘give-back’ bonus dividends to reward Empower members for a successful year. John D. Wakefield, president/CEO of Empower, reports that Empower assets, loans, and net income increased significantly in 2010. According to Wakefield, credit unions are not-for-profit, so any excess profits are returned to the members in the form of better rates and service enhancements. “Despite a challenging economy, 2010 was a strong year for Empower, so we are paying our members a give-back dividend and interest rebate,” says Wakefield. “It’s a way of sharing Empower’s success with its member-owners, and a way to thank them for their membership.” The amount each member receives represents a percentage on savings account dividends earned and a rebate on loan interest paid throughout the year. Members will see their dividend and interest rebate posted on D...