ORNL FCU Distributes $4 Million Special Dividend to its Members, Pays Off Auto Loan Balances of Four Members
For the second year in a row, the ORNL Federal Credit Union (ORNL FCU) Board of Directors approved a special dividend to be shared across the membership. Members were paid based on the depth of their ORNL FCU relationship, i.e. their total loan and deposit balances. The $4 million special dividend was issued to members on Friday, October 18. In 2018, the ORNL FCU Board paid a $3 million special dividend to members for the first time since 2005.
“The Credit Union continues to experience strong growth and good earnings,” said Randy Gorman, chair of the ORNL FCU Board. “The special dividend shared across the membership is one way we return value and express appreciation to our members.”
As part of the $4 million special dividend announcement, the Board acknowledged that four randomly-selected members would also have their auto loan balances paid off in full. In addition to paying these auto loan balances, the Credit Union provided each of the winning members with a check to cover the estimated taxes they would owe on the value of their loan payoff.
The Credit Union hosted the winners at a presentation ceremony and reception on Wednesday, October 23. Members whose auto loan balances were paid in full were Nakita and Ronald Delfino of Knoxville, Tenn.; Travis and Elizabeth Hutchison of Andersonville, Tenn.; Matthew and Elisha Roper of Madisonville, Tenn.; and Kristi Wagner of Sweetwater, TN.