ORNL FCU distributes special dividend of $ 5 million
For the fourth year in a row, the ORNL Federal Credit Union (ORNL FCU) Board of Directors has approved a special dividend to be shared among members. The special dividend of $ 5 million was paid to members on Friday, October 22. Since 2018, ORNL FCU has returned more than $ 16 million in value to members, according to a press release.
The 2021 special dividend was approximately 10.7 basis points on the combined 12-month average balance of all loans and deposits for each member. Over 123,000 members received a special dividend, with the average payout being $ 39. Members have been paid based on the depth and breadth of their relationships and balances over the past 12 months, according to a statement.
â2021 has been another incredible year for the ORNL Federal Credit Union and our members,â said Randy Gorman, Chairman of the Board of ORNL FCU. âDespite the challenges we have faced for almost two years due to the ongoing pandemic, we continue to experience strong growth. We remain committed to delivering value to our members who have made ORNL FCU their trusted financial partner.
For the third year in a row and coinciding with the announcement of a special $ 5 million dividend, ORNL FCU also revealed that seven randomly selected members saw their car loan balances fully paid off. In addition to paying off these auto loan balances, the credit union gave each of the winning members a check to cover the estimated taxes they would be owed on the value of their loan repayment.
The Credit Union greeted the winners in a presentation ceremony and reception on Friday, October 29. Taylor and Antonio G. of Knoxville, Tennessee; Troy J. of Clinton, Tennessee; Steven M. from Harriman, Tennessee; Angela R. of Knoxville, Tennessee; Melissa W. of Knoxville, Tennessee; and Kelsey W. of Knoxville, Tenn. The Credit Union did not provide the full last names of the winners.