PFFCU Thanks Members with 2023 Member Bonus

As we approach the New Year, Police and Fire Federal Credit Union remains committed to offering exceptional Value to our members. We increased yields throughout 2023, putting us on track to pay $175 million in dividends¹ to our members. And on top of that, PFFCU awarded $15 million through our Member Bonus Program.²

This morning, December 12, 2023, members saw the 2023 Member Bonus post to their S1 Savings or IRA Accounts. Since the start of the Member Bonus Program in 2018, we’ve awarded over $115 million. The year-end bonuses add to the everyday benefits that PFFCU delivers to members, including increased deposit yields, competitive loan rates, and fewer and lower fees.

Member Bonus payouts are calculated from share dividends earned, loan interest paid, and courtesy overdraft fees paid during the Member Bonus period, ending November 30, 2023. For questions about the Member Bonus Program, please see our Member Bonus FAQs.

1. Total dividends projected to be paid to members from January 1, 2023 through December 31, 2023 based on account balances on November 30, 2023.

2. The Police and Fire Federal Credit Union Member Bonus Program is subject to change at any time, without notice. The Member Bonus amount, when paid, is dependent on Police and Fire Federal Credit Union’s financial performance and is not guaranteed. Student Loans were not eligible for the Member Bonus. To have received the Member Bonus, you must have met all eligibility criteria and had an open/ active savings account in good standing on the deposit date. You must not have caused PFFCU a loss with a charged-off loan(s) and/ or a negative share charge-off(s) within the current year or the previous 5 years. Member Bonus payout required that you must have accumulated enough dividends earned, loan interest paid (including interest on sold mortgage loans) or courtesy overdraft fees to qualify for at least a $1 Member Bonus. Maximum Member Bonus payout in 2023 was $500. The combined balances of all first mortgages that were sold to Fannie Mae and active as of November 30, 2023 were eligible to receive up to $100 for the Member Bonus Program in 2023.  The Member Bonus may be taxable and a portion will be included on a 1099-INT form. Police and Fire Federal Credit Union does not provide tax advice, please consult a tax advisor.