Tyndall Federal Credit Union returned $13.7 million dollars
of profits to its members.
The profit-sharing payout was distributed among more than 70,000
qualifying members and deposited directly into their savings accounts.
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 $70 to $420.
.
While commercial banks typically return profit to
shareholders, Credit Unions are member-
owned financial cooperatives and returns profits to members.
Over the past five years, Tyndall has returned $40 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 $150,000 in community grants and offering its
staff 4,000 hours for community volunteer service.
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