PHOENIX, Jan. 01, 2019 /PRNewswire-PRWeb/ -- It was a Happy New Year for Arizona Federal members, who received a 2018 end-of-year bonus through Plus Payouts, the credit union's revenue-sharing program. The $6.5 million payout, the largest in the program's six-year history, brings the total paid to members to more than $36 million.
"Plus Payouts is Arizona Federal's unique way of returning excess capital to our members, who are the reason why we exist," said Ronald L. Westad, president and CEO.
"When our members turn to us for their financial needs – like loans, savings, credit cards, insurance and car buying assistance – it adds value to the credit union. Through Plus Payouts, we're able to reward members for their active participation."
To be eligible for Plus Payouts, members had to complete an average of 10 or more transactions on their accounts each month. This qualified them for a base payout and, if applicable, a loan interest refund and bonus dividend.
Beginning in 2019, Arizona Federal modified the Plus Payouts program to make it even easier to qualify. Members with a Checking Plus Account will be automatically eligible for a year-end bonus dividend and a loan interest refund, with a qualifying loan or credit card account.
To learn more about Plus Payouts and membership at Arizona Federal Credit Union, visit ArizonaFederal.org
About Arizona Federal Credit Union
Arizona Federal is a $1.6 billion not-for-profit, local cooperative providing financial services and expertise to more than 120,000 member/owners. Founded in 1936, the organization takes its mission of financial empowerment and mutual benefit to heart by providing members cutting-edge self-service tools and mobile apps, competitive rates on auto loans and home loans, financial coaches, identity protection services, and annual member payouts when the cooperative does well. Arizona Federal has 12 locations across the Phoenix metropolitan area. Deposits are federally insured by the National Credit Union Administration. For more information: ArizonaFederal.org
SOURCE Arizona Federal Credit Union
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