PANAMA CITY, Fla. (WMBB) — Tyndall Federal Credit Union is giving back $10 million in cash to its members starting the week of Thanksgiving through Christmas.
It’s called Project Giveback, and its purpose is simple – returning profits to members responsible for Tyndall’s success.
In 2019 and 2020, Tyndall will have returned $17.5 million to its members. According to the credit union, this year’s give back is particularly significant because of the amount of people who have struggled financially during the pandemic.
“Our mission is to make a meaningful difference in our member’s lives,” said Tyndall President and CEO, Jim Warren. “Helping our members is the only reason we exist. We do things differently than other financial institutions by showing our members we care not only through Project Giveback, but every day by offering our members savings such as fee forgiveness and reduction on select checking services, reduced closing fees on mortgages and high IRA rates. I don’t know of another financial institution willing to give back so much at time when it is needed most.”
Tyndall members could receive as much as $300 between Thanksgiving and Christmas depending on their relationship with the credit union. According to the credit union, members who have an active checking account with direct deposit stand to receive the most money.
The money will be deposited into members’ accounts each week as a surprise with the final deposit will be made on Christmas day.
“As a not-for-profit cooperative, every member owns a share of this credit union,” Warren said. “Many of them don’t even realize it, but our management team does and we never forget it. That’s what makes ‘Project Giveback’ so important. This is not our money. It is our member’s money and it would be irresponsible of us to keep it, especially during a pandemic.”
Warren said he and his team hope Project Giveback brings just a little comfort and joy to Tyndall members this holiday season.
Members of Tyndall Federal Credit Union can go to Tyndall.org/ProjectGiveback for more information.