ECU to Return $16 Million Extraordinary Dividend
December 15, 2023
KINGSPORT - Eastman Credit Union announced a record-breaking $16 million Extraordinary Dividend that members will receive in January 2024.
“This year’s Extraordinary Dividend amount is the largest ever. We can attribute this success to our loyal members, hard-working staff, and the leadership and vision of our management and board of directors. It’s a grand finale to another great year,” said Kelly Price, ECU’s president and CEO.
The 2024 payout will raise the total given back to members to $193 million since 1998.
“Our Extraordinary Dividend is just one of the many ways we give back,” said Price.
ECU’s strong financial performance in 2023 allowed ECU’s board of directors to approve the year-end bonus. The amount of interest members in good standing paid on loans and earned on deposits throughout the year determines each member’s Extraordinary Dividend deposit amount. The more business members do with ECU, the more they can expect to receive.
“Giving back is at the heart of ECU’s members-first philosophy. In everything we do, we’re constantly thinking about what’s best for our members, how we can strengthen our communities, and boost local economies,” said Price.
ECU members receive individualized service, great products and services, free financial wellness resources and coaches, and many other benefits of membership.
“We hope people will see the value of ECU membership. We encourage them to open accounts, do more business with us, and discover the ECU difference for themselves,” said Price.
About Eastman Credit Union
Eastman Credit Union is a not-for-profit financial cooperative headquartered in Kingsport, Tennessee. Serving areas of Northeast Tennessee, Southwest Virginia, and East Texas, ECU is one of the nation’s top 50 largest credit unions with over 320,000 members and employs approximately 1,000. For more information about ECU, visit ecu.org. Funds are federally insured by NCUA. Member Equal Housing Lender. Equal Opportunity Employer.
