Thousands of SAFE Federal Credit Union members got an end-of-year financial boost as the credit union shared annual bonus dividends and interest rebates totaling over $1.02 million.
The December 31 bonus marked the 27th anniversary of SAFE’s Member Giveback Program. Since the program’s inception, the credit union has paid its members more than $38 million in bonus dividends and interest rebates.
“SAFE’s success is a shared accomplishment,” said President and CEO Michael Baker. “This year’s million-dollar giveback is a tangible way for us show our appreciation by sharing a large portion of our earnings directly with our members.”
Payments were calculated based on members’ account usage. Deposit accounts were given a 0.70% bonus based on dividends earned in 2023. Loan accounts received a 1.25% rebate based on total interest paid in 2023.
Like last year, members also were paid an additional $25 for using their debit card on average, more than 30 times per month.
“On behalf of SAFE’s Board of Directors, we’d like to thank our members for another successful year,” said Board Chair, Kay Oldhouser Davis. “It’s our privilege to continue SAFE’s Member Giveback Program and share that success with our greatest asset—our members.”
About SAFE Federal Credit Union
SAFE Federal Credit Union, founded in 1955, is one of the largest financial institutions based in South Carolina with over $1.8 billion in assets, 140,000+ members, and 18 branches. Membership is open to anyone who lives, works, worships, or attends school in Sumter, Lee, Kershaw, Clarendon, Florence and parts of Richland and Lexington counties. Membership is also open to employees of more than 400 companies located throughout the Midlands and relatives of those eligible to join. Connect with us at www.SAFEfed.org, on Facebook.com/SAFEfederalcreditunion or @SAFEFCU.
