PANAMA CITY, Fla.--(BUSINESS WIRE)--Tyndall Federal Credit Union deposited over $16 million in profits into more than 86,000 of its members’ accounts on Wednesday.
Tyndall has shared more than $78 million in profits with its member owners over recent years. Members earned these deposits based on six criteria: Online Banking, Bill Pay, Direct Deposit, Card Usage, e-Statements, and loan products.
“Credit unions were created to help everyday people save money, access credit, and improve their lives,” said Frances Martin, Chair of Tyndall’s Board of Directors. “As a board, we take our fiduciary responsibility seriously. Our priority is always, ‘How can we make it easier for our members to save more, access what they need, and achieve their goals?’ We are honored to share this giveback with them to show our appreciation for their trust and support.”
Jazmira Guzman, a Tyndall member since 2020, says she was inspired by the Credit Union’s Giveback and decided to pay it forward in her own way.
“I used a lot of that money towards Christmas presents for my parents and for my brother. So it was like my own little Christmas present because I was able to give back as well.”
This year, members had the opportunity to receive up to $700, resulting in more than 268,000 Giveback deposits.
“At Tyndall, we are dedicated to serving our members and treating them like the owners they are. Our operating model emphasizes prudent expense management, embraces our cooperative ownership structure, and responsibly leverages our tax-exempt status in alignment with its original intent,” said John Parillo, President and CEO of Tyndall. “Our focus is to create long-term, tangible value for our members by reinvesting in our business, allowing all to benefit from the compounding effect of those investments, which includes improved technology, competitive rates, and lower fees. At the same time, we are proud to return capital and earnings to our members through initiatives like this special dividend, demonstrating our unwavering commitment to their financial well-being.”
Learn more about the Tyndall Giveback at Tyndall.org/Grateful.
About Tyndall Federal Credit Union
Tyndall Federal Credit Union was founded in 1956 to help its members reach their financial goals. Its first office was on Tyndall Air Force Base in Panama City, Florida, but today Tyndall serves more than 114,000 members from all walks of life.
