Dow Chemical Employees’ Credit Union (dcecu.org) has announced its Member Giveback for 2018, with $19.4 million being given back to eligible members on Jan. 1 in the form of rebates and rewards. This 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 2018 DCECU Member Giveback represents an increase of nearly $2 million versus 2017’s then-record-high total of $17.5 million.
For 2018, DCECU gave back 60 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 60 percent of the interest they’d earned on their savings. Members in good standing also received rebates on Visa®Debit Card transactions.
“The credit union’s prudent management of members’ deposited funds and our members’ commitment to engaging in our financial cooperative are both key factors in our ability to be one of only a handful of financial institutions nationwide to share earnings with members to this extent while still maintaining a healthy capital cushion,” said DCECU President/CEO Dennis Hanson.