Founders pays $5 million loyalty bonus to members
Monday, December 4, 2017
Lancaster, SC – Founders Federal Credit Union distributed a $5 million Loyalty Bonus to its members on December 1, 2017. The Loyalty Bonus posted to approximately 125,000 qualified member accounts, based on their relationship with the credit union. The Loyalty Bonus is designed to reward member loyalty each year.
This marks the fifth year in a row Founders has paid a Loyalty Bonus to its members. In the past 25 years, Founders has exceeded $55 million in bonus payouts to members. Bruce Brumfield, President and CEO of Founders said, “It is just another way we continue to reward our members for their support of Founders.”
Members in good standing qualified for the Loyalty Bonus based on the amount of interest they have paid on loans or dividends earned on deposits since January 1, 2017.
Members in good standing with an active Founders Checking Account and Direct Deposit received a percentage of year-to-date interest paid and dividends earned or a minimum of $10 as long as their Checking Account had activity during the month of November 2017.
A Loyalty Bonus calculator is located at RelaxLoyaltyPays.com for estimation purposes. While the credit union expects to distribute the Loyalty Bonus every year, criteria and payouts will vary from year to year.
About Founders Federal Credit Union: The credit union, one of the largest and most innovative in the nation, was founded in 1950 in Fort Mill, South Carolina to provide financial services to the employees of Springs Industries, Inc. Founders serves over 210,000 members with 30 offices and three service centers in North and South Carolina. The credit union has over $2 billion in assets.