Dow Chemical Employees’ Credit Union


Consumer Loans

Whether it’s a car, boat, vacation, personal computer or any other consumer product, DCECU is here to help finance. By using our cost-free loan payment services, the amount of your loan payment can be automatically deducted from your net pay or Share (savings or checking) Account. You may make early or additional payments toward your consumer loan at any time that you like because there is no pre-payment penalty. You may also be eligible to receive the potential year-end Loan Interest Rebate. Convenience is free at DCECU!

Auto Loans

Loans are available for both new and pre-owned vehicles. Our interest rates are some of the best around and 100% financing is available for qualified borrowers. Loans are available up to 84 months, depending on the value of the collateral and the amount borrowed. Also, depending on the loan you choose, you may be eligible to receive the potential year-end Loan Interest Rebate. We can also refinance your existing loan held at another financial institution. Certain restrictions may apply.

Used vehicles - If you are looking at pre-owned cars or want to trade in your present vehicle, check out NADA Guides for current values.

Special finance incentives on new hybrid vehicles purchases!
All new hybrid vehicles qualify for a 0.25% interest rate discount as well as the potential year-end Loan Interest Rebate. A hybrid vehicle is defined as a vehicle that has a combination gasoline engine and an electric motor.

back to topRecreational Vehicle Loans

Are you shopping for a recreational vehicle? The following items can be financed through a DCECU Recreational Vehicle Loan:

  • Boats
  • Jet-Skis
  • Snowmobiles
  • ATVs
  • Travel Trailers
  • Motor Homes
  • Motorcycles

We offer 100% financing for qualified borrowers, no application fees, and some balloon terms are available. Certain restrictions may apply.

Refer to the NADA Guides for current values.

back to topRevolving Line-of-Credit Loans

This type of loan offers you the convenience of pre-approved financing that you can put to use at any time you choose. Once your Line-of-Credit is authorized, you can receive cash advances up to your available credit limit whenever you need money, for any reason. Certain restrictions may apply.

Use your Revolving Line-of-Credit when a little extra cash would come in handy or to meet larger expenses - home improvements, vacations, tuition. The choice is yours!

Plus, with our Revolving Line-of-Credit Loan you may also elect to receive Overdraft Protection in the event your checking account becomes overdrawn. Our Revolving Line-of-Credit Loan will advance in $100* increments to your DCECU checking account to cover transactions when funds are not available from your savings account.

(Your payment may vary at the rate of $18.00 per $500.00 based on your existing balance. Minimum of $18.00 required.)

* Advances in $100 increments will be made until less than $100 is available, at which point the entire amount available will be advanced.

back to topShare Secured Loans (Share Savings, CD, or Premium High Yield Accounts)

By getting a Share Secured Loan, your DCECU accounts will continue to earn dividends/interest, which allows your savings balance to grow.

When you use the dollars in your accounts as collateral instead of withdrawing them, you keep your total balance intact. Your nest egg stays safe, and your plans for these funds remain within reach.

The maximum loan amount is the available balance of shares pledged. You can use your share savings, CD, or Premium High Yield account at the Credit Union. Repayment terms can be arranged with up to a 20 year amortization. Certain restrictions may apply.

back to topSignature Loans

Need cash fast for a variety of reasons? DCECU is the place to obtain your low cost personal loan. You can borrow up to $50,000 for personal uses. $50,000 is the maximum amount of unsecured debt allowed by Credit Union loan policy. (This includes any personal loans, Visa loans or revolving lines of credit). Repayment terms can be arranged for up to five years. Certain restrictions may apply.

back to topStock Secured Loans

DCECU makes it easy for you to secure the funds you need. When you are facing larger expenses, borrow the cash necessary by using your stock certificates as collateral. We will accept stock certificates from Fortune 500 companies to secure your loan. Certain restrictions may apply.

We can finance up to 60% for qualified borrowers of the market value of your stock.

Utilize your stock certificates to secure loans for anything you choose, such as major home improvements, a new automobile, college tuition, medical bills or any other purpose.

back to topPrivate Student Loans

Let DCECU help you pay for school

Whether your high school career is winding down, you’re a college student looking forward to your next semester or you’re thinking about going back to school, DCECU’s Private Student Loans are a great deal and the perfect way to pay for your education. You can borrow as little as $2,000 or up to $30,000 per year to pay for all school certified education-related expenses, including tuition, room and board, books, technology, and even past-due tuition bills.

DCECU's Private Student Loans offer:

  • Competitive variable interest rates. We not only consider credit bureau data, but also your GPA, course of study, class standing and year of study to determine your interest rate. Better grades equal lower rates. Private Student Loans do not qualify for the potential year-end Loan Interest Rebate.
  • 30-day no-fee return policy. If you find a cheaper way to pay for college, you can cancel your loan within 30 days. No cancellation fee. No interest.
  • Loan deferment. We'll defer your loan payments until six months after you graduate or drop below half time status. While you are in school, you have the choice of paying the monthly interest amount or a $25 proactive payment.
  • 10-year repayment plan. Once you graduate, you'll have a full decade to repay your loan.
  • Easy application process. Applications are completed online at your convenience.
  • Approximately 2,200 eligible schools. Many Michigan and out-of-state institutions are eligible for DCECU Private Student Loans.
  • Get one-quarter percent (.25%) interest rate reduction once the loan has entered repayment status and ten percent (10%) of the original principal balance has been repaid, subject to floor rate of 4.50%.
  • Co-signer release option. After you make 24 full payments of principal and interest on time, the borrower has the option to apply to release the co-signer.

back to topDCECU’s MEMBER'S CHOICETM Borrower Security

Thinking about taking out a loan to make home improvements or buy a vehicle?

It can be a financial gamble because life happens. You're betting you can pay back your loan and you won't lose your job (due to no fault of your own), or become disabled (due to injury or illness), or pass away - which may leave your family responsible for your loan balance.

DCECU’s MEMBER'S CHOICETM Borrower Security* is a voluntary loan-payment protection product that helps preserve your family’s standard of living and gives you relief from financial burdens if a protected life event such as disability, loss of life, or involuntary unemployment happens to you.

Call our Consumer Loan Department at (800) 835-7794 or (989) 835-7794 and ask about protecting your loans today.

* Your purchase of DCECU’s MEMBER'S CHOICETM Borrower Security is optional and will not affect your application for credit or the terms of any credit agreement required to obtain a loan. Certain eligibility requirements, conditions and exclusions may apply. Please contact your loan representative, or refer to the Member Agreement for a full explanation of the terms of DCECU’s MEMBER'S CHOICETM Borrower Security.

back to topGuaranteed Asset Protection (GAP)

Most vehicles depreciate by thousands of dollars as soon as they are purchased. Unfortunately, if a member's vehicle is stolen, accidently damaged beyond repair, or otherwise declared as a total loss, they are still liable to pay the difference, or the "GAP," between the primary insurer's settlement and the credit union loan balance.

GAP is a debt protection product that cancels or reduces the potentially high-cost difference between the protected member’s insurance settlement and the loan balance on items directly related to the purchase of the vehicle.

DCECU will be offering GAP PLUS! If there is a total loss or unrecovered theft loss of the vehicle and member finances or leases a replacement vehicle from the credit union within 60 days after the Primary Insurance company issues a settlement check, the first $1,000 will be cancelled on the member’s new loan.

Your purchase of MEMBER'S CHOICETM Guaranteed Asset Protection (GAP) is optional and will not affect your application for credit or the terms of any credit agreement required to obtain a loan. Certain eligibility requirements, conditions, and exclusions may apply. Please contact your loan representative, or refer to the Member Agreement for a full explanation of the terms of GAP. If you choose GAP, adding the product fee to your loan amount will increase the cost of GAP.

back to topSkip-A-Pay

Trying to catch up financially? DCECU understands that sometimes you are in need of extra funds to make ends meet. Skip-A-Pay allows you to skip one payment on your qualified loan each calendar year, up to 6 times per loan. Skip-A-Pay is available on auto, non-balloon recreation vehicle, non-balloon share secured, stock secured and signature loans in good standing. There is a non-refundable application fee of $25 per request.

In order to take advantage of Skip-A-Pay you will need to fill out an application. You can submit the completed form in person, by fax to (989) 832-9289, or by mail to Dow Chemical Employees’ Credit Union, Consumer Loan Department, PO Box 1649, Midland, MI 48642-1649.

For more information stop by or call (989) 835-7794 or (800) 835-7794.

Click here for Skip-A-Pay Frequently Asked Questions.
Click here for the Skip-A-Pay application form.


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