Coosa Pines Federal Credit Union announced this week its members will be receiving over $500,000 as a bonus dividend and loan interest refund for 2023. This is the ninth consecutive year that Coosa Pines Federal Credit Union members have received a bonus and refund, for a total of over $3.2 million.
The Board of Directors made the decision to issue the bonus and refund based on the success of the credit union in 2023 and outlook for 2024. “This year has been very 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 bonus dividend and interest refund are based on the current year’s results and projections for the following year. Therefore, any future bonus or refund are not guaranteed. “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.”
