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Coosa Pines Federal Credit Union announces over $500,000 in bonuses and refunds for members

CHILDERSBURG, Ala. – Coosa Pines Federal Credit Union (FCU) announced this week that its members will be receiving over $500,000 as a bonus dividend and loan interest refund for 2022.

This is the eighth consecutive year that Coosa Pines FCU members have received a bonus and refund for a total of over $2.7 million.

The Coosa Pines FCU Board of Directors made the decision to issue the bonus and refund based on the success the credit union enjoyed over the past year.

“This year has been one of the most successful for Coosa Pines, and the outlook for next year is positive,” said CEO Don Carden. “While the purpose of a bank is to make money for its shareholders, as members of a financial cooperative, we all share in the success of our credit union.”

The dividend bonus was figured using 7.25 percent of dividends earned on the member’s share savings account from Jan. 1 to Sept. 30, 2022.

The loan interest refund amount is determined by 7.25 percent of the loan interest paid for the same period.

Certain exclusions apply, but qualifying members will see a deposit in their share savings accounts in time for Black Friday shopping.

“Every member is an owner of Coosa Pines,” said Carden. “Every decision we make is with their financial success in mind. We are elated when we can save them money, reduce financial stress, or share with them a bonus and refund like this.”

Coosa Pines FCU was chartered in 1950 and is exclusive to Alabama. The FCU has a field of membership that includes Talladega, Shelby, St. Clair, Jefferson, Coosa, and Clay counties. Their five branches are in Childersburg, Sylacauga, Chelsea, Pell City, and Vincent.


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