Sandia Laboratory Federal Credit Union is giving back $20 million in November to its members via a special dividend.
“We are pleased to be in a financial position to return a portion of our reserves to our members. Their loyalty and fiscal responsibility are the foundation for SLFCU’s strength and stability,” said SLFCU President and CEO Robert Chavez. “While we don’t do this every year, as a not-for-profit organization without stockholders, we have the discretion to do so. This is just one distinct benefit of working with a credit union instead of a bank,” he added.
“After the recession, SLFCU was one of the only financial institutions in the state who was willing to fund local developers and home builders,” said Scott Ashcraft, president of Las Ventanas Homes in Albuquerque, which is receiving part of the dividend. “Working with SLFCU helps keep our business local, which is really important to us. It’s great to work with people who understand New Mexico, and who spend their money in the community, too.”
The amount each member in good standing will receive is based on dividends earned over the past 12 months on deposit accounts (including IRAs), as well as interest paid on business, consumer, and mortgage loans as applicable. The amounts given are in addition to dividends already earned by members throughout the year.
To learn more, visit slfcu.org/SpecialDividend, call 505.293.0500 or 500.947.5328, or visit any SLFCU branch.
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