Sterling Federal Credit Union returns $1M to members – Credit Union Journal

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Sterling Federal Credit Union in Colorado paid out more than $1 million to its members in 2018.

The institution said in a press release issued Friday that the payment included a 7 percent refund of loan interest paid by members as well as bonus dividends.

Sterling added that it has paid out bonus dividends and interest refunds “consistently for over 40 years.”

The institution generated net income of about $1.4 million in 2018, roughly the same as in the prior year.

The credit union’s assets climbed more than 8 percent, to about $151 million, from 2017 to 2018. Meanwhile, membership increased close to 4 percent, to almost 9,000, in 2018 from a year earlier.

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