DCECU surpasses $2 billion asset mark April 13, 2021
Dow Chemical Employees’ Credit Union has achieved a milestone by surpassing $2 billion in assets.
DCECU hit the $2 billion mark near the end of 2020 – even after giving back $15.57 million to members through Member Giveback rebates and rewards on eligible loans, debit card purchases and deposits for 2020, as well as closing a record-high 1,400 Mortgage Loans worth a total of approximately $198 million in 2020. As of March 31 of this year, the credit union’s assets had reached $2.1 billion.
“Surpassing $2 billion in assets is a tremendous milestone for us, and it’s a testament to our members’ loyal participation in our financial cooperative and their faith in us to prudently manage their deposited funds,” said DCECU Chief Executive Officer Michael Goad. “Having a healthy capital cushion allows us to continue offering great rates on loans and high returns on savings, enhancing our products and services, and contributing to the community at large.”
Based on assets, DCECU is Michigan’s ninth largest credit union and is among the nation’s 200 largest credit unions, according to LendingTree’s DepositAccounts.com website.
“Being a single-branch credit union and holding enough assets to be one of the largest credit unions in both the state and the nation truly is an achievement,” Goad said. “We anticipate that our assets and these rankings will continue to flourish as we remain focused on growth.”
As part of its commitment to growth, the credit union recently expanded its membership eligibility criteria to include donors at the $10 level and above to the DCECU Members Endowed Scholarship Fund, which is managed by the Midland Area Community Foundation. DCECU membership also is open to employees and retirees of nearly 100 Select Employer Group companies, as well as to their family members.
“If someone has ever thought about joining DCECU but assumed they wouldn’t qualify, now is the time to think again,” Goad said. “With our newly expanded membership eligibility through contributions to our scholarship fund, plus our expanding roster of Select Employer Groups, it’s easier than ever for someone to become a DCECU member.”