PaymentsJournal
No Result
View All Result
SIGN UP
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
PaymentsJournal
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
No Result
View All Result
PaymentsJournal
No Result
View All Result

Ascend Federal Credit Union Paying $4.1 Million Dividend to Members

By PaymentsJournal
December 3, 2020
in Banking, Credit, Debit, Emerging Payments, Press Releases
0
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Ascend Federal Credit Union Paying $4.1 Million Dividend to Members

Ascend Federal Credit Union Paying $4.1 Million Dividend to Members

Tullahoma-based company continues to remain one of the nation’s few credit unions to offer a member return

TULLAHOMA, Tenn., Dec. 1, 2020 – Ascend Federal Credit Union, the largest credit union in Middle Tennessee, announced today that it will return approximately $4.1 million in bonus dividends and loan interest refunds to its members. With the addition of this year’s return, Ascend’s volunteer, unpaid board of directors has approved giving a total of more than $92 million to the credit union’s members since 2004.

“The member return is a testament to our credit union’s strength and stability, especially during a year of economic challenges and uncertainty,” said Caren Gabriel, Ascend president and CEO. “I am pleased to report that Ascend can offer this return while still maintaining our solid financial footing. It is also another way Ascend can express our appreciation to our members and to provide them another source of income during the holidays.”

Gabriel said the member return is never guaranteed, but it is something Ascend’s board strives for annually.

The credit union examines its financial performance each year to identify how the return will be calculated and what amount will be given. Generally, the more savings someone has with Ascend, the greater his bonus dividend, and the more loans he has, the greater his loan interest refund. In order for a loan to receive an interest refund, it must not be delinquent.

The 2020 return will appear on members’ December statements.

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Tags: CreditCredit UnionsEconomic RecessionLoansMember ExperienceMembership

    Get the Latest News and Insights Delivered Daily

    Subscribe to the PaymentsJournal Newsletter for exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    How Employee Performance Enhances the Customer Experience

    Three Strategies to Maximize Loyalty in the AI-Driven World 

    June 11, 2025
    PFM tools

    How FIs Are Cutting Through Subscription Clutter with PFM Tools

    June 10, 2025
    child identity theft

    Stranger Danger: Protecting Your Children from Identity Theft

    June 9, 2025
    agentic commerce

    The Agentic Advent: How the Next Iteration of AI is Shaping Commerce

    June 6, 2025
    payments hub

    All in One: How a Payments Hub Eliminates the Pain Points

    June 5, 2025
    Vertical SaaS

    From Underdogs to Industry Leaders: How Vertical SaaS Powers Mid-Sized Firms

    June 4, 2025
    credit card surcharging

    A Perfectly Understandable Bad Idea: Why Merchants Should Reconsider Surcharging

    June 3, 2025
    synapse baas

    The Numbers Game: Building the Relationship Between Banks and Accountants

    June 2, 2025

    Linkedin-in X-twitter
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter

    ©2024 PaymentsJournal.com |  Terms of Use | Privacy Policy

    • Commercial Payments
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    No Result
    View All Result