2019 Member Giveback January 10, 2020
Dow Chemical Employees’ Credit Union has announced its Member Giveback for 2019, with more than $20.5 million being given back to eligible members on Jan. 1 in the form of rebates and rewards. It is the largest-ever giveback for DCECU, which has returned a share of its earnings to members every year since 1980 and in all but one year since 1955.
The 2019 DCECU Member Giveback represents an increase of more than $1.1 million versus 2018’s then-record-high total of $19.4 million.
For 2019, DCECU gave back 50 percent of the interest that members in good standing had paid on their eligible loans over the course of the year and gave them a cash reward equal to 50 percent of the interest/dividends they’d earned on their eligible deposits. Members in good standing also received rebates on Visa® Debit Card transactions – 0.125% of all signature-based transactions and $0.01 per PIN-based transaction.
“Our members are committed to engaging in our financial cooperative, and we are committed to prudent management of their deposited funds,” said DCECU President/CEO Dennis Hanson. “This mutual commitment allows us to be one of only a handful of financial institutions nationwide to share so much of our earnings with members and still be able to maintain a very healthy amount of reserves.”