American 1 Credit Union announced today that it has given back over $1 Million to their members in the form of a savings dividend and a loan rebate. During the past year, American 1 promoted a Finance Local® message to the community which led to the continued growth and financial strength of the credit union. This allowed American 1 to give back such a sizable amount.
The $1 Million campaign highlighted the community impact that can be made when people choose to Finance Local®. American 1 continues to encourage community members to make informed decisions while shopping and financing purchases.
A 40% rebate is being paid to all members who financed a secured, closed-end loan with American 1 in 2015 or 2016. The rebate is 40% of the interest the member paid on their loan during 2016.
All members with savings shares were awarded a bonus dividend of 2% APY based on their daily balances during the final quarter of 2016.
In addition, members with Money Market accounts received a bonus dividend of 2% APY based on their daily balances in December 2016.All rebates and dividends will post to members accounts by January 15, 2017.
Established in 1950, American 1 Credit Union today serves over 55,000 members with branches in Jackson, Washtenaw, Hillsdale, Calhoun, Macomb and Wayne counties.