CP Federal Credit Union Gives Back More Than $1 Million

On Dec. 31, CP Federal Credit Union members received more than $700,000 in an interest rebate and bonus dividend. Members received 5 percent back of the total interest they paid on loans outstanding with CP Federal during 2018, plus an additional 5 percent dividend based on the total dividends paid during the year.

Additionally, the credit union’s board of directors also established a $300,000 partnership with the Jackson Community Foundation to introduce Jackson Saves, a new savings program designed to assist with post-secondary education expenses.

Combined, these two gifts total more than $1 million dollars going back to members and the community, the credit union’s largest gift to date since its establishment in 1953.

The Jackson Saves program will help prepare students for success by giving all kindergartners attending an eligible Jackson Public School or Public Charter a savings account, as well as an initial deposit. The credit union’s $300,000 donation will fund the first three years of the program.

CP Federal Credit Union and the Jackson Community Foundation hope to launch the Jackson Saves program in the 2019-2020 school year.