American Airlines Federal Credit Union Declares Extraordinary Dividend
Posted on: Thursday, 5 January 2006, 12:00 CST
FORT WORTH, Texas, Jan. 5 /PRNewswire-FirstCall/ -- American Airlines Federal Credit Union is proud to announce that an extraordinary dividend of approximately $5 million was paid to member-owners on December 31, 2005. The Board of Directors chose this extraordinary year-end dividend as a way to thank their members for their continued participation and support. American Airlines Federal Credit Union members are more than just customers and this extraordinary dividend is more than just a holiday reward -- it serves to let members know that when American Airlines Federal Credit Union prospers, so do its members.
The extraordinary dividend is based on dividends earned on qualifying share accounts and/or interest paid on applicable loans in 2005. The active participation of both borrowers and savers contributed to a successful 2005. The savings portion of the extraordinary dividend was calculated on 2005 share dividends earned, and was paid at an annual rate of 3.5 percent. If loan interest was paid in 2005, the additional portion of the extraordinary dividend amount was calculated on an annual rate of 2.5 percent on those applicable loans.
Member response to the extraordinary dividend has been very favorable. Members have expressed gratitude, especially after realizing that part of the calculation was based on interest paid on mortgage and home equity loans. Others indicated it was a great way to start the New Year.
About American Airlines Federal Credit Union
American Airlines Federal Credit Union was founded in 1936 by a small group of American Airlines employees at Midway Airport in Chicago. Their vision, which remains true today, was to create a member owned, co-operative financial institution where all members could assist each other financially. Today, American Airlines Federal Credit Union has a membership of more than 204,000, loans outstanding total over $2.3 billion, and has 42 branches located throughout the United States and Puerto Rico.
Current AMR Corp. releases can be accessed on the Internet.
The address is http://www.aa.com/
American Airlines
CONTACT: Brenda Tristan-Marrone of American Airlines Federal CreditUnion, +1-817-967-6097, or brenda.tristan-marrone@aacreditunion.org
Web site: http://www.aa.com/
Source: PRNewswire-FirstCall
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