TTCU Announces $3.5 Million in Dividends
TTCU Federal Credit Union announced that $3.5 million in member rewards dividends were paid out to TTCU members in 2020, an increase of 10.5% over the previous year.
“Despite the pandemic, TTCU had an exceptional year,” President and CEO Tim Lyons said. “This is a testament to the trust our members place in us in good times and bad.”
Deposits increased 20% over the course of the year, leading to an increase in member rewards payouts. TTCU also had a record year in mortgage production, as home loan rates remained relatively low throughout the year, leading to a 13% increase in overall loan balances. This also contributed to more members qualifying for member rewards dividends payouts.
“Our member rewards program is unique in that it pays dividends on loan balances,” Chief Financial Officer Shelby Beil said.
To qualify for the dividend, members must have an active checking account, among other requirements. For more information on member rewards and eligibility requirements, visit ttcu.com.
About TTCU Federal Credit Union
TTCU is the second-largest credit union in Oklahoma with eighteen branches; six in Tulsa, two in Broken Arrow, one in Oklahoma City, Bixby, Claremore, Jenks, Miami, Muskogee, Owasso, Sapulpa, Sand Springs and Tahlequah.
Established in 1934, TTCU Federal Credit Union is a $2.3 billion credit union serving more than 135,000 members who are educationally affiliated, including students and their families as well as hundreds of Select Employee Groups in NE Oklahoma with a full complement of depository, lending and financial advisory services. TTCU is federally insured by the NCUA