Empower paid $4 million give-back dividend to members for 2020

SYRACUSE, N.Y. — Empower Federal Credit Union paid its members a total of $4 million in “giveback” bonus dividends and interest rebates for 2020.

The amount each member receives represents a percentage on savings-account dividends earned and a rebate on loan interest paid throughout the year, the Syracuse–based credit union said in a release. Members bonus dividends and interest rebates were posted to their accounts on Dec. 31, 2020.

Empower Federal Credit Union (FCU) has more than 220,000 members and more than $2.3 billion in total assets, according to National Credit Union Administration data.

Empower FCU was formed in 2007 through a merger of Power FCU, founded in 1939, and Empire FCU, founded in 1950.