PANAMA CITY, Fla.--(BUSINESS WIRE)--Tyndall Federal Credit Union returned $13.7 million of profits back to its members. The payout was given to more than 70,000 qualifying members and deposited directly into their savings accounts. Individual amounts were calculated based on participation with the credit union and ranged from $70 to $420.
Tyndall has returned more than $40 million back to its members as profit-sharing and storm aid over the last five years. 41% more people received a Tyndall profit share in 2022 versus 2021.
“We’re able to deliver value year after year because we don’t waste our members’ money,” said Jim Warren, President and CEO. “Instead of charging excess fees, and exorbitant rates, our team is able to do this by keeping operating costs down, investing in digital channels and focusing on our members’ needs.”
On January 1st, Tyndall began waiving more than 15 fees -- including monthly service charges, minimum balance fees, money market fees, non-sufficient funds and ATM fees. The credit union’s support for the community also includes disbursing nearly $150,000 in community grants and offering its staff 4,000 hours of community volunteer service.
About Tyndall
Tyndall Federal Credit Union has served the people of the Florida Panhandle and South East Alabama since 1956 with safe, affordable, convenient and responsive financial solutions. As a not-for-profit, member-owned, financial cooperative, Tyndall offers a full range of financial products and services to improve lives and strengthen our communities. We consistently drive value back to our members with competitive loan and deposit rates, and fewer fees. Visit Tyndall.org. Federally insured by NCUA.
