More CUs Begin to Remind Members They Are Also Owners With Year-End Dividends

ELKO, Nev.—More credit unions are announcing year-end bonuses and dividends, with CUs in Nevada, Michigan and Texas the latest to remind members they are also owners. 

In Nevada,  Elko Federal Credit Union (EFCU) said it is giving back in two ways: a $1 million Member Dividend paid directly to members, and a $200,000 Community Dividend that is dedicated to supporting local not-for-profit organizations. 

“Together, these dividends reflect EFCU’s not-for-profit, member-owned mission—returning value to members while reinvesting in the communities it serves,” said the $300-million Elko FCU, adding that combined, the payout represents the largest total dividend in its history.

How Payout is Determined

The member dividend is based on EFCU’s strong financial performance, it said, including:

• Approximately $457,000 share bonus dividend for qualified primary share account holders.
• Approximately $457,000 loan interest refund for members with qualifying loans.
• Approximately $86,000 to its Youth accounts.

Over the past eight years, EFCU said it estimates it has returned more than $4.2 million to members through dividends.

Returning Funds to Owners

“This dividend is simple at its core—we’re giving money back to the people who own this credit union: our members,” Chairman Thomas C. Ballew said in a statement. “It reflects the trust our members place in us and the strength we achieve together.”

In addition to the Member Dividend, EFCU is introducing a $200,000 Community Dividend for 2025. The credit union said it represents its ongoing commitment to strengthening the places where its members live and work. The Community Dividend focuses on support for organizations addressing food insecurity, youth-centered programs, community projects, and nonprofits serving special demographic groups.

‘Live Our Mission’

“When our credit union does well, our community benefits too,” President and CEO Todd Sorenson said in a statement. “Supporting local nonprofits is another way we live our mission and make a real, lasting impact beyond our walls. In addition to this Community Dividend, EFCU has supported our community nonprofits by our dedicated employees having volunteered over 350 hours of service in 2025 within our local community. I couldn’t be prouder of how EFCU supports the Northeastern Nevada community.”

Gulf Coast Educators Announces Payout

In Pasadena, Texas, the $1.25-billion Gulf Coast Educators FCU said it is distributing $2 million in loyalty bonuses to eligible members, to thank them for their continued trust and support.

Following a successful 2025, the credit union said it deposited $2,016,665 directly into the accounts of 33,164 eligible members as part their Loyalty Bonus program. Individual bonuses ranged from $15 to $285, rewarding members for their everyday banking activity and long-term relationship with the credit union.

‘Success Belongs to Members’

“As a not-for-profit, member-owned financial institution, our success belongs to our members,” CEO Eric Stegall said in a statement. “When we do well, our members do well. This loyalty bonus is our way of saying thank you for choosing us and for helping make our credit union strong.”

Payout amounts for each member varied based on their individual relationship with the credit union. Members were rewarded for debit card usage, auto and collateralized loans, personal loans, and real estate loans financed with GCEFCU during the 2025 year, the CU said.

‘Extremely Passionate About’

Gulf Coast Educators FCU said it that over the years it has paid out a total of $13.9 million in loyalty bonuses to members. 

“The Loyalty Bonus program is something we are extremely passionate about and hope to continue in the future,” Stegall added in a statement. “We have even gone so far as to make it one of our corporate goals.”

Michigan Legacy CU Pays Patronage 365

In Wyandotte, Michigan., Michigan Legacy Credit Union, has announced its Patronage 365 dividend.

According to CEO Carma Peters, Michigan Legacy opts to distribute its patronage dividends back to its members every day of the year in fee waivers (hence, Patronage 36’), based on the members’ participation with the credit union. The dividend increases as members increase their financial transaction activity.

“Our staff educate members by informing them that the more they use their credit union, the less they pay in fees,” Peters said in a statement. “In 2025, Michigan Legacy waived a total of $319,275.00 in fees to members via patronage dividends – a number equal to 34% of Michigan Legacy Credit Union’s 2025 income, and one that reflects our role as a true financial cooperative.”

Patronage fee waivers include monthly maintenance fees and check cashing fees, among others.  Members accrue points each month which result in automatic fee waivers after a designated threshold.  Michigan Legacy is currently working with core processor CU*Answers, to enhance its members’ ability to track the incurred and waived fees on their statements and mobile/app-based banking, making the information more transparent.  

Additional Payouts

In addition to the Patronage 365 fee waivers, Michigan Legacy Credit Union’s total donations and sponsorships in 2025 was $55,055.72: $13,596.00 in sponsorships and $41,459.72 in donations. MLCU supported numerous charitable causes in 2025, including Detroit-based The Konnection, Wyandotte Rotary, Detroit Thanksgiving, Celebrate MiLife and Corewell Health Children’s in Southeast Michigan.

“It’s an honor for me to represent the more than 20,000 generous Michigan Legacy Credit Union members who are also always willing to give of their funds to help the less fortunate in our communities,” Peters said in a statement. “I also commend our 68 employees who gave their time, talents and resources over the past year to support the communities our credit union serves.”

Other Credit Unions Announcing Dividends

As the CU daily reported earlier:

• Dearborn, Mich.-based DFCU Financial announced the distribution of$18.7 million in cash back to eligible members, marking 20 years of its Cash Back program. Since the program launched in 2006, DFCU Financial said it has returned more than $510 million to its members, “reinforcing its long-standing commitment to sharing success with the people it serves.”
• Parkersburg, W.V.-based West Virginia Central Credit Union paid a bonus dividend just over $993,000 to about 22,000 members. WVCCU said that unlike recent bonus dividends paid out, the owner dividend was distributed based on how long a member has banked with the credit union rather than account balances. For those who were members as of Dec. 31st, 2024, and prior received $48 and those who became members after received $12.50.
• Midland, Mich.-based Dow Credit Union said its 2025  Member Giveback is paying out more than $18 million.  The payout is based on a 30% return of the additional interest paid to members with eligible deposits, 30% of the interest paid on eligible loans, and a 0.125% rebate based on net Visa debit card usage.