$500,000 to Our Members!
September 26, 2018
Chattanooga Area Schools Federal Credit Union is thrilled to announce that we will be giving back $500,000 to our members in the form of interest rebates and bonus dividends!
What does that mean?
Any member that has a loan with us (auto, home, personal, etc) will be receiving a 10% rebate of all interest they paid in 2018.
For example*, say you have an auto loan for $15,000 at 3% interest for 60 months. At this rate, you’ll pay roughly $376 in interest your first year and will receive 10% of that back as a rebate of $37.62. Imagine what your rebate will be if you have a home mortgage with us.
Any member that has a Share, Savings, CD or IRA account with us will be receiving a 20% bonus of all dividends paid during 2018.
For example*, say you have a $5,000 CD with a 1.75% APY. You’ll earn roughly $87.50 in dividends per year. With our 20% bonus rebate, you will receive an additional $17.50.
How can CASFCU do this?
Credit unions are not-for-profit institutions and we are committed to that. So, we give back our profits to our members through low interest rates, higher dividends, interest rebates and bonus dividends. We truly are here to serve our members and want to thank them for their loyalty to our credit union.
I’m a member! How do I get my rebate and/or dividend?
All members will receive their bonus dividend/rebate money by the end of the day on December 28, 2018. This allows members to perform transactions up until that day and assures they will be included in their yearly totals. Once the totals are in, CASFCU will post each members' individual Rebate and/or Bonus to their Regular Share account.
We want to thank all of our members for a wonderful 2018 and look forward to a great year ahead!
*These numbers are just estimates used for example purposes and do not indicate any exact rates, calculations or specific member rebates.