Ascend Returns $5 Million to Members
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Members of Ascend Federal Credit Union are getting a $5 million Christmas present.
The amount represents bonus dividends and loan interest refunds that will appear on members’ December statement. Over the past decade, a total of $55 million has been returned to Ascend members.
“While a member return is never guaranteed, our volunteer, unpaid Board of Directors has examined our financial situation for each of the past 10 years and voted to share the success of the credit union with the people who make it successful – our members,” Ascend President and CEO Caren Gabriel said.
Gabriel said the member return rewards loyalty with Ascend. The more savings someone has with the credit union, the greater the bonus dividend, and the more loans the individual has, the greater the loan interest refund.
“If you’re not a member of Ascend, it’s never been easier to join,” she said. “If you are a member, are you in a position to take full advantage of a return if the Board votes to offer one next year? If your mortgage, credit card and auto loan are with us, your return will be more than someone who simply has a savings account.”
With $1.697 billion in assets and more than 148,000 members, Ascend is the largest credit union in Middle Tennessee and one of the largest federally chartered credit unions in the United States.
Ascend is federally insured by the NCUA. Membership is limited.
November 24, 2014