It was an after-Christmas gift in the bank for SRP Credit Union members. A Loyalty Dividend was designed and paid out just after the holiday to reward SRP members and to recognize the financial strength of the Credit Union.
In 2022, SRP’s Board also paid a Loyalty Dividend totaling over $1.5 million. This year, the amount has doubled to over $3 million.
“The amount members received was based on the member’s account(s) relationship they have with SRP. All members did not receive the same amount of the Loyalty Dividend,” according to Josh Rhoden, SRP Marketing Manager.
“With the increases in the costs of living in 2023, it is gratifying to know that SRP bolsters our membership with the financial strength they can rely on,” says Eric Jenkins, CEO, SRP FCU. “The Loyalty Dividend reflects our appreciation to our member-owners as they continue to support us.”
This also reflects SRP’s belief in the “People Helping People” credit union philosophy. SRP FCU is a member-owned nonprofit financial institution with a volunteer Board of Directors. As such, members can receive higher interest rates on savings, lower rates on loans, and lower fees.
SRP Federal Credit Union is headquartered in North Augusta, SC, and provides financial services to more than 190,000 members. For more information on SRP Federal Credit Union, visit www.srpfcu.org.
