FORT WORTH, Texas, Jan. 8 /PRNewswire/ -- American Airlines Federal Credit Union (AA Credit Union) is proud to announce that a $9.6 million dividend was paid to member-owners on Dec. 31, 2009. The Board of Directors approved the dividend payout at the board meeting held on Dec. 18, 2009.
The active participation of both borrowers and savers contributed to a successful year for the Credit Union. The bonus dividend was based on dividends received on qualifying share accounts and/or interest paid on applicable loans. The dividends received and interest paid portion of the dividend was calculated as 4.1 percent of share dividends received on share accounts and 4.10 percent of interest paid on applicable loans from Jan. 1, 2009 through Nov. 30, 2009.
"Our sound lending decisions and efficient operation have kept us secure, strong and solid, which enables us to once again provide our member-owners with this bonus dividend," said Angie Owens, AA Credit Union President and CEO. "And the more active their participation with us, the bigger the reward received for their loyalty."
AA Credit Union returns its profits to its member-owners. This bonus is paid above regular dividends, in addition to the 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. AA Credit Union has more than 218,000 members nationwide and assets of more than $5.1 billion. As a not-for-profit financial cooperative, AA Credit Union is committed first and foremost to enriching their 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.
SOURCE American Airlines Federal Credit Union