Dearborn-based DFCU Financial has returned $25 million – half its 2015 income – to more than 100,000 members through the credit union’s annual loyalty reward.
Mark Shobe, president and CEO, DFCU Financial, says this year’s return marks the largest cash reward paid out by any financial institution in Michigan and tops last year’s record-breaking $24 million payout. He says the credit union has paid out more than $206 million to its members since 2006.
“DFCU Financial members made 2015 a great year, and as we continue to grow in communities across the Detroit, Ann Arbor, Grand Rapids and Lansing areas, it’s important to us that we thank our members for their loyalty, and that they share in our success,” Shobe says.
DFCU’s reward program pays qualified members an annual loyalty reward of 0.5 percent on their average yearly loan and deposit balances from the previous year; whether members are borrowers or savers, they’re eligible to receive a share.
Shobe says DFCU Financial will open new branches in Birmingham, Clinton Township, Ypsilanti ,and Taylor, this year.