Through careful planning over the last three years, Emergency Responders Credit Union notes it has met or exceeded all regulatory requirements and maintained excellent capital. In keeping with its cooperative credit union philosophy, and after close study of the interest rates charged on loans and dividends paid on shares, the following actions were approved.
On December 31, 2012 – the credit union will return a 5.0% Interest Rebate to current members who paid interest on loans in calendar year 2012 with the rebate deposited in their savings account.
Just for the month of November 2012 – the Board of Directors authorized an Extra-Ordinary Dividend Rate of 3.50% APR all regular share accounts, club accounts, family savings accounts, money market accounts, and IRA accounts.
According to a release submitted by the credit union, these actions are a direct result of the loyalty shown by members who choose to borrow money from a credit union that believes in them, and by those who prefer to save in an institution they own!