Centra Credit Union announces a total special dividend payment of nearly $1.2 million to Centra Members. Since Centra is a credit union, Centra Members are also owners of the Credit Union and the beneficiaries of Centra’s profits.
This bonus was made possible through favorable financial conditions in 2024. Based on 2024’s financial performance, Centra’s Board of Directors approved the return of profits to Members. The special dividend payment, known as a Member Loyalty Bonus, will be paid out later this month to eligible Members through Centra’s Member Loyalty Rewards.
“Last year showed a strong financial profile for the Credit Union,” said Centra Credit Union Board Chair Randy Proffitt. “Because of this, we were able to approve a special bonus to show our thanks to Members for choosing Centra for their banking needs. Their continued Membership helps Centra remain a financially-sound institution.”
Bonuses, or special dividend payments such as this one, are deposited into Member Loyalty Accounts, which are high interest savings accounts designated for Members’ cash rewards. More information about Member Loyalty Rewards can be found at https://www.centra.org/about/member-loyalty-rewards/.
This is the third special dividend payment Centra has issued since the launch of their all- cash Member Loyalty Rewards program in 2021. Since then, Centra has paid out $3.5 million in Member Loyalty Bonuses. Following these special dividend payments, Centra maintains a strong financial profile, including a strong capital position.