Members of CommunityAmerica Credit Union collected more than $6 million in the institution’s annual “profit payout.”
A statement from the credit union said the payment, which is based on the institution’s earnings, averaged nearly $90 for each household with members. CommunityAmerica has 190,000 members.
Like other credit unions, CommunityAmerica operates as a cooperative without stockholders or owners. The payouts are based on members’ use of its products and services and their account balances.
This is the third consecutive year the payout has equaled at least $5 million, the statement said.