Dow Credit Union Member Giveback Returning $14 Million to Members

MIDLAND, MICHIGAN, December 14, 2022 – Dow Credit Union (dowcreditunion.org) has announced its Member Giveback for 2022, with $14 million expected to be given back to eligible members in January via rebates and rewards deposited to their savings accounts.

This is the 42nd consecutive year that the credit union – which became Dow Credit Union in September after 85 years as Dow Chemical Employees’ Credit Union – has returned a share of its earnings to members. A grand total of more than $275 million has been given back during those four-plus decades. The Member Giveback began in 1955 and has been offered in all but one year since.

For 2022, Dow Credit Union 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 Dow Credit Union Visa® Debit Card purchase transactions for the year, regardless of whether the transactions were signature-based or PIN-based.

“We provided the largest giveback in the nation as a percentage of total assets for 2021, and we’re hopeful that our 2022 Member Giveback will keep us on that leading edge,” said Dow Credit Union President and CEO Michael Goad. “Along with our diligent management of members’ deposited funds, the loyalty of our members in saving with and borrowing from us year after year is a key reason we’re able to routinely offer such a significant Member Giveback.”

Dow Credit Union Board of Directors Chair Perry Holmon agreed, noting the importance of the credit union’s loyal – and growing – membership base.

“The 77,000-plus member-owners who have chosen Dow Credit Union as their financial institution and continue to loyally use our products and services are crucial to our ability to offer a Member Giveback,” he said. “With everyone now able to apply for membership and with our upcoming physical expansion into Saginaw in 2023, we’re continuing to grow and are looking forward to serving even more members in the coming years.”

The official total dollar amount of Dow Credit Union’s 2022 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, 2023, but all should be completed no later than Jan. 31, 2023. Visit dowcreditunion.org/giveback for details and updates.

About the Dow Credit Union Member Giveback

Dow Credit Union 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 dowcreditunion.org/giveback.

About Dow Credit Union

Dow Credit Union is a not-for-profit financial institution that is owned by its members and is dedicated to being a multiplier for good. Located online and in Michigan’s Great Lakes Bay Region, the credit union has more than $2 billion in assets and more than 77,000 members across all 50 states and has been recognized multiple times by the Credit Union National Association (CUNA) for top performance in saving members money. Membership can be established via a $10 contribution to the credit union’s Multipliers for Good charitable fund. In addition, membership is open to employees and retirees of nearly 100 Select Employer Group companies and their family members, as well as to family members of any current Dow Credit Union member. For more information, visit dowcreditunion.org or call 989.835.7794 or 800.835.7794.