Tuesday, January 12, 2021

FIREFIGHTERS FIRST CREDIT UNION GIVES BACK OVER $2.1 MILLION TO FIREFIGHTERS AND THEIR FAMILIES

January 2021— LOS ANGELES, CALIFORNIA – Firefighters First Credit Union distributed over $2.1 million in profit sharing proceeds to their membership. This year’s distribution brings total profits returned to members to over $50 million since 1981, honoring the legacy built upon “firefighters helping firefighters”.  As a cooperative, members own the Credit Union.   And the mission and vision of the organization is framed by the fifteen volunteer Board of Directors who are active and retired firefighters.  

“Firefighters have been on the frontline of the COVID-19 response,” said Dixie Abramian, Firefighters First Credit Union’s President/CEO. “In 2020, they also contended with one of the worst wildfire seasons in recent history. We are heartened by how much firefighters give to their communities.”

Firefighters First was started in 1935 by firefighters for firefighters and celebrated its 85th anniversary in 2020. Today, it serves multi-generational career firefighters and their families in 741 fire departments nationwide. Firefighters exemplify trust, loyalty, and service and they want to reflect that in the way they take care of their member’s financial life.

The approach to profit sharing at Firefighters First Credit Union is simple. Payouts represent a refund on the interest members paid on loan accounts and a bonus on the dividends earned in savings accounts. Individual payouts varied based on the scope of the member’s financial relationship with the Credit Union. The more members banked with Firefighters First Credit Union and utilized their extended services—Business Services, Firefighter Insurance Services, Firehouse Financial and Firefighters First Trust Services—the more members received in their annual payout. Payouts were posted to member accounts on December 31, 2020.


For more information, please visit https://www.firefightersfirstcu.org/About/About-Us/Profit-Sharing.

 

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