A Message from the President/CEO

Dear DCECU member:

I hope this message finds you safe and well.

This year was a challenge for all of us. Amid a global pandemic and economic uncertainty, we have also faced a regional flood disaster.

As 2020 comes to a close, DCECU humbly reflects on another successful year of serving our members; although much differently than in years past. This year brought significant challenges, but they didn’t prevent our tremendous staff from providing dependable service to our members, which now total over 71,000. With our robust digital service options, over 98% of our members obtained DCECU financial services through our many electronic service options like our online banking and mobile app, ATMs, bill pay, remote check deposits, debit and credit cards. All others received personal service in our drive-thru, our call center, or made an appointment for lobby service.

We know this operational model may be getting old for some. We completely understand. We thank you for your patience and understanding as we have made careful, thoughtful, risk-based decisions to manage the unique responsibilities we have as a single branch credit union. These decisions are made in the interest of the health and safety of our members, staff and community. As you know, DCECU’s single branch creates incredible operational and cost efficiencies - allowing us to return a share of our earnings to our members (see below). However, we must also ensure the ongoing availability of our branch, as well as healthy staff to serve you. Please refer to the FAQs to address many of the member questions we have received, as well as provide greater insight and transparency into our decision-making process. Your additional questions are welcome at any time. Your credit union continues to be a highly capitalized, secure financial institution, supporting the needs of our members. During 2020, DCECU funded over $360 million in new loans for our members, a 15% increase from 2019. Whether it is an auto loan or mortgage, or you are looking to refinance a loan from another financial institution, we are ready to help you with your borrowing needs, just give us a call or apply online.

DCECU is also proud to support our community. Following the flood disaster in our region, our team worked especially hard, extending approximately $2.3 million of emergency loans at special rates and terms and granting payment options where needed. In addition, we contributed $200,000 to support local individuals and non-profits during the pandemic and we gave $100,000 to organizations providing relief after the flood disaster.

Serving our members and the local community is part of what makes DCECU who we are. We are honored that we were voted the #1 Credit Union in the Midland Daily News Readers’ Choice Awards for the sixth year in a row! We were also voted the area’s #1 Mortgage Lender for the second consecutive year. Thank you for putting your trust in us and letting us serve you and your family!

Finally, the news you have been waiting for! Because of DCECU’s strong financial position, we are able to share our success with our loyal members. I am excited to announce DCECU is returning a share of our earnings to members for the 40th consecutive year through our Member Giveback! In all, we expect to give back over $14 million to our members for 2020, one of the highest Member Giveback rewards in the country!

Our 2020 Member Giveback1 will be credited to the Share Accounts of members in good standing2 on January 1, 2021, which will include:

  • A year-end Loan Interest Rebate of 40% of interest paid on rebate-eligible DCECU loans and our Rebate-Eligible Visa® Credit Card* during 2020
  • The Member Saver Reward, which will add 40% to the dividends/interest earned on eligible DCECU shares/deposits in 2020
  • DCECU Visa® Debit Card Rebates of 0.125% of all net purchase transactions (debits) during 2020

Our Member Giveback is just one of the ways we show appreciation for your continued loyalty to DCECU. Thank you for your confidence in us – and for your partnership and understanding as we navigate these challenging circumstances with an eye toward keeping our members, employees and community safe and healthy and remaining available to serve you, just as we have been throughout our history.


Michael Goad
Chief Executive Officer

  1. While year-end rebates and rewards occur with great regularity, this credit union benefit is not guaranteed. Not all loan and deposit products are eligible. Loan Interest Rebate for Rebate-Eligible Visa Credit Cards will be deposited to Share Account no later than January 31, 2021. Some limitations apply. ↩︎

  2. Defined as those members who have at least $5 in their Share Account on December 31; have had no delinquent accounts; have not had adverse collection activities on their accounts; and have not had accounts charged off. Members who are in default or who have caused the credit union a loss typically are not eligible for year-end rebates and rewards. ↩︎


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