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ESL distributes $29M to members in annual owners’ dividend payout
ESL distributes $29M to members in annual owners’ dividend payout
ESL Federal Credit Union announced a $29 million payout to members in its annual owners’ dividend distribution for 2024. It is the second largest single payout in the owners’ dividend’s history and a 16% increase over the January 2024 distribution.
More than 420,000 eligible ESL members received an owners’ dividend.
The payout was made based on the credit union’s most recent annual financial activity and is a fulfillment of the ESL mission to share its financial success with its members.
Following this payout, ESL has now shared more than $320 million with its members through the owners’ dividend since 1997, including $154 million paid to members since 2020.
“This $29 million in earnings paid out to our members ensures we are sharing our financial success with those who directly contribute to it,” said Faheem Masood, president and CEO of ESL Federal Credit Union.
Eligible ESL members receive an owners’ dividend based on established criteria, which includes account balances, card transactions and relationships with the ESL Wealth Management teams. This is in addition to a base starting payout of $10.
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