Ent Members Receive Free Deposits Wednesday

Members of Ent Federal Credit Union on Wednesday began spending or saving unexpected deposits to their savings accounts made by the Colorado-based institution.

“It’s an amazing event that a (credit union) can share the good will and the profit,” said Ent member Nestor Aquino. “I really like that.”

Ent deposited between $25 and $1,000 in the savings accounts of nearly 210,000 members. Ent officials said the so-called Special Member Dividend thanks members for their business and allows Ent to share its success in 2011.

“I’d say our membership and employees had a lot to do with that,” said Randy Bernstein, Ent’s president and chief executive officer. “Members paid their loans. Our delinquencies have been low. We’ve always been a very conservative lender.”

Ent notified its members of the deposits earlier this week, but the move still surprised many members.

“We’re not going to rule out doing it again in the future,” said Bernstein. “Right now, there’s no plans (to do so). A lot of it depends on the economy, how the housing market is and how our members are utilizing our services.”

The amount of deposits was based on interest members paid on loans and the amount of dividends they earned on deposits last year.

Ent members who spoke with KRDO Newschannel 13 were divided on whether to save the money or spend it.

“Maybe go get a dinner or something,” said member Nate Will. “Put it toward some bills. Get a book or something.”

Bernstein said about 80 percent of its members live in Colorado with the others spread across the country.