CEFCU is proud to announce a new option for borrowers to consolidate or refinance students loans. Credit Union members can take advantage of a Consolidation Student Loan (CSL), which allows them to consolidate all existing federal or private student loans into one loan, or refinance a single loan.
At the end of the year, assets were more than $5 billion, which is an increase of over 1.9% compared to 2013. Savings deposits and loans outstanding were at historic levels. And, total membership for 2014 grew by over 7,700 members.
CEFCU received a 5-Star or "Superior" rating – the highest rating awarded – by BAUERFINANCIAL, an independent organization that has been analyzing the performance of all financial institutions since 1983. This rating indicates CEFCU is a safe, financially-sound credit union that is operating well above regulatory capital requirements, having a capital to assets ratio of over 9%.
A record $40 million Extraordinary Dividend was recently announced by CEFCU’s Board of Directors and will be distributed to the Credit Union’s member/owners. The amount each member will receive was determined by dividends earned and interest paid during the first 11 months of the year, as of November 30, 2014. On December 16, dividends will be deposited to members’ Savings accounts.