Dow Chemical Employees CU Returning $13.6M to Members

MIDLAND, MICHIGAN, December 15, 2021 – Dow Chemical Employees’ Credit Union (dcecu.org) has announced its Member Giveback for 2021, with $13.6 million expected to be given back to eligible members by mid-January via rebates and rewards deposited to their savings accounts.

This is the 41st consecutive year that DCECU has returned a share of its earnings to members, with a grand total of $262 million given back during those four-plus decades. The Member Giveback began in 1955 and has been offered in all but one year since.

For 2021, DCECU will give back 40% of the interest that members in good standing paid on their eligible loans over the course of the year and will give them a cash reward equal to 40% of the interest/dividends they earned on their eligible deposits. Members in good standing also will receive a 0.125% rebate on their total DCECU Visa® Debit Card purchase transactions for the year, regardless of whether the transactions were signature-based or PIN-based.

“In 2020, we provided the nation’s largest giveback to members as a percentage of total assets, and 2021’s payment currently is ahead of other credit unions that have announced givebacks,” said DCECU Chief Executive Officer Michael Goad. “We’re also the largest financial institution based in Michigan’s Great Lakes Bay Region – which is only possible because of the loyalty of our members, and the Member Giveback is one of the biggest ways in which we thank them for that loyalty.”

DCECU Board of Directors Chairman Mark Bachman agreed.

“The Member Giveback happens with such consistency because DCECU has 74,000-plus members who loyally utilize our products and services year in and year out,” he said. “To say the least, the participation we see from our members in terms of their saving and borrowing activity with us is the driving force behind the credit union’s success.”

The official total dollar amount of the 2021 Member Giveback will be announced in late January, after all rebates and rewards have been deposited to members’ accounts. Most deposits will be made on Jan. 1, 2022, but all should be completed no later than Jan. 15, 2022.

About the DCECU Member Giveback

DCECU strives to maintain a healthy capital (net worth) level. Anything over that target is considered excess income and generally is given back to eligible members in the form of a Member Giveback. Numerous factors, including – but not limited to – interest rate levels, yield curve, balance sheet mix and risk, capital (net worth), the current and future economic environment, and regulatory changes, are considered in determining the giveback amount. Although this credit union benefit is not guaranteed, the Member Giveback typically is given out annually on or about Jan. 1. Learn more at dcecu.org/giveback.

About Dow Chemical Employees’ Credit Union

Dow Chemical Employees’ Credit Union is a not-for-profit financial institution that is owned by its members and dedicated to providing them with smart, affordable banking solutions. Located in Midland, Michigan, DCECU has $2.1 billion in assets and more than 74,000 members and has been recognized multiple times by the Credit Union National Association (CUNA) for top performance in saving members money. Membership is open to employees and retirees of nearly 100 Select Employer Group companies and their family members, as well as donors to the Midland Area Community Foundation’s DCECU Members Endowed Scholarship Fund. For more information, visit dcecu.org or call 989.835.7794 or 800.835.7794.

Follow DCECU on Facebook at facebook.com/dcecu and on Instagram at instagram.com/dcecu_mi.