For eight years running, DFCU Financial has paid out a dividend to its members. This year was no different, with $23 million in dividends making its way into the accounts of the Dearborn-based credit union’s membership.
"Of that $23 million we paid in January, 76 percent ($17.5 million) went to tri-county residents," says Mark Shobe, president & CEO of
DFCU Financial. "I like to think of it as our own little stimulus program."
DFCU Financial members received an average of $250 each. Some of its clients received thousands of dollars while one received $18,000.
The 64-year-old credit union has grown exponentially in the last decade. It has gone from having three branches in Dearborn and Livonia to 24 offices across Michigan, including in Ann Arbor, Grand Rapids and Lansing. It opened a new office in Ann Arbor last year and plans to open another in Michigan later this year.
"We plan to deepen our coverage into these markets," Shobe says. "We will be opening new offices in these cities."
DFCU Financial currently employs 500 people and the occasional summer intern. It hired about 50 people for a broad range of positions over the last year.
Source: Mark Shobe, president & CEO of DFCU Financial
Writer: Jon Zemke
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