FORT WORTH, Texas, Jan. 9, 2012 /PRNewswire/ -- American Airlines Federal Credit Union (AA Credit Union) is proud to announce that it paid a $10 million dividend to qualifying member-owners on Dec. 31, 2011. The Board of Directors approved the dividend payout at its board meeting Dec. 16, 2011.
The active participation of both borrowers and savers contributed to a successful year for the Credit Union. The bonus dividend was based on dividends earned on qualifying share accounts and/or interest paid on applicable loans. The savings portion of the dividend was calculated on share dividends earned through Nov. 30, 2011, and the additional portion of the bonus dividend amount was calculated on loan interest paid from Jan. 1 through Nov. 30, 2011.
"Our ability to provide our member-owners once again with this bonus dividend is a testament to the sound lending decisions and efficient operation that have kept us secure, strong and solid," said Angie Owens, AA Credit Union President and CEO. "And we're always happy to provide a bonus to our most loyal members who have multiple products with us."
AA Credit Union returns its value to its member-owners. This bonus is paid above regular dividends, in addition to lower loan rates and higher dividends member-owners already enjoy. To recognize the most active and loyal members, an additional $50 bonus was distributed to those who participated in three or more of the eight major account categories.
About American Airlines Federal Credit Union
Founded in 1936, AA Credit Union now serves the present and retired employees of American Airlines, their family members and people who work in the air transportation industry. In its 75th year, AA Credit Union has more than 231,000 members nationwide and assets in excess of $5.9 billion. As a not-for-profit financial cooperative, AA Credit Union is committed first and foremost to enriching its member-owners' financial well-being through their participation in the products and services of the Credit Union. For more information, please visit www.AACreditUnion.org.
AA Credit Union is a registered trademark of American Airlines, Inc.
This credit union is federally insured by the National Credit Union Administration.
SOURCE American Airlines Federal Credit Union