American Airlines Federal Credit Union Distributes Record Bonus Dividend To Its Member-Owners
FORT WORTH, Texas - American Airlines Federal Credit Union (AAFCU) proudly paid a record bonus dividend of nearly $8 million to its member-owners on Dec. 29, 2006. The Board of Directors chose this year-end bonus dividend as a way to thank the member-owners for their continued support and participation. American Airlines Federal Credit Union member-owners are more than just customers, and this bonus dividend serves to let them know that when American Airlines Federal Credit Union prospers, so do they.
The bonus dividend was based on dividends earned on qualifying share accounts and/or interest paid on applicable loans in 2006. The active participation of both borrowers and savers contributed to a successful 2006. The savings portion of the dividend was calculated on 2006 share dividends earned and was paid at an annual rate of 2.5 percent. If loan interest was paid in 2006, the additional portion of the bonus dividend amount was calculated on an annual rate of 2.5 percent on those applicable loans.
"Member response to the bonus dividend has been extremely favorable, especially after realizing that part of the calculation was based on interest paid on mortgage and home equity loans," said John Tippets, AAFCU President and CEO.
AMERICAN AIRLINES FEDERAL CREDIT UNION was founded in 1936, and today serves the present and retired employees of American Airlines, their family members and anyone that works in the Air Transportation Industry. American Airlines Federal Credit Union has more than 207,000 members nationwide and assets of $4.2 billion.
As a not-for-profit financial cooperative, American Airlines Federal Credit Union is committed first and foremost to enriching their member-owners' financial well-being through their participation in the products and services of the Credit Union.