Tyndall Federal Credit Union returned $11 million of profits to its members.
The profit-sharing payout was distributed among 50,000 qualifying members and deposited directly into accounts today.
Tyndall’s year-end “Giveback” profit share is among the largest in the country and rewards
members proportionally for their participation with the Credit Union.
Individual amounts were calculated based on which online banking services and loans members used, and ranged from $50 to $400.
Tyndall also eliminated all account maintenance fees, including fees for memberships, ATMs, among others.
While commercial banks typically return profit to shareholders, Credit Unions are member-
owned financial cooperatives and returns profits to members.
Over the past three years, Tyndall has returned $28 million back to its members as profit sharing and storm aid.
In addition, the credit union’s support for the community includes disbursing more than $200,000 in community grants and offering its staff 4,000 hours for community volunteer service.
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