High Dividend Paying Credit Unions and High Dividend Paying Stocks
I was thinking about writing an article on high dividend paying stocks but forgot about it. Anyway, a few days back, I got a letter from my credit untion saying that I got a $50 dividend for being a customer of Dearborn Credit Union (DFCU Financial). Now, this got me thinking, how many other credit unions are there that give such year dividends, and more importantly the benefits of owning high dividend paying stocks. At my Credit Union, I only had $200 in savings account, and for that I got a $50 annual dividend.
This is how their dividend was calculated:
Qualifying members received a 0.5% dividend on all 2008 average loan and deposit balances, with each eligible member receiving at least $50.
So, everyone gets atleast a $50 dividend provided they maintained a minimum of $100 savings.
This is an example from their website on how much dividend you would get depending on loans you have with them:
For example, a member with an average deposit balance of $20,000 and an average loan balance of $50,000 ($70,000 total balance) would receive a $350 patronage dividend. ($70,000 X 0.50%).
Now, with all these dividends, I have decided to look up credit unions that payout similar dividends, and further look up stocks that give out high dividends.
So, my next article will be of credit unions that payout high dividend rates, along with some good high paying dividend stocks.
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