Member Giveback

member giveback

The Dow Credit Union Member Giveback

For decades, Dow Credit Union has returned a board-approved percentage of our annual earnings to members in good standing1 via our Member Giveback rebates and rewards2. We are one of only a handful of credit unions nationwide to routinely give back a portion of our earnings to members.

 

Giveback Basics

What is the Dow Credit Union Member Giveback?

Dow Credit Union strives to maintain a healthy capital (net worth) level. Anything over that level is considered excess income and generally is given back to eligible members in the form of a Member Giveback. Typically included in the Member Giveback are our Loan Interest Rebate, Member Saver Reward and Visa® Debit Card Rebate.

  • The Loan Interest Rebate entitles members in good standing1 to get back a Board-approved percentage of the total interest paid during that year on their rebate-eligible Dow Credit Union loans.
  • The Member Saver Reward entitles members in good standing1 to be rewarded with a Board-approved percentage of the total dividends/interest earned during that year on their Dow Credit Union deposits that are eligible for the Member Saver Reward.
  • The Visa Debit Card Rebate entitles members in good standing1 to receive a rebate of a Board-approved percentage of all net purchase transactions (debits) on their Dow Credit Union Visa Debit Card during that year.

How often does the Dow Credit Union Member Giveback happen?

Although this credit union benefit is not guaranteed, the Member Giveback is typically given out annually during the month of January.

Are eligible loan and deposit products guaranteed to receive Member Giveback rebates and rewards?

No, but a Giveback has occurred every year since 1980 and in all but one year since 1955.

 

2021 Giveback

Dow Credit Union is giving back $13.6 million to members for 2021!

Dow Credit Union is giving back 40% of the interest that members in good standing1 had paid on their eligible loans over the course of the year and will give them a cash reward equal to 40% of the dividends/interest they’d earned on their savings in 2021. Members in good standing1 also will receive a .125% rebate on their combined total signature-based and PIN-based Visa® Debit Card purchases for the year.

Giveback History

2021 marks the 41st consecutive year of Dow Credit Union's Member Giveback.

The graph shows the Loan Interest Rebate percentages over the last 20 years.

giveback chart

As you can see, the Loan Interest Rebate typically had been between 12.5% and 15% from 2002 to 2010. The jump to higher rebate percentages from 2012 through 2017 was done in an effort to return money to members as we reduced excess capital – a “rainy-day fund” – that we had built up in response to The Great Recession of 2007 to 2009. Now, we expect that rebates will start to return to more normal levels.

 

Not a Member?

Join Today!

1. Members in good standing are defined as those members who have at least $5 in their Share Account on December 31 of that year, have had no delinquent accounts, have not had adverse collection activities on their account, 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.
2. 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 is typically deposited to Prime Share Account no later than January 31. Some limitations apply. 
Dow Credit Union strives to maintain a healthy capital (net worth) level. Anything over that level is considered excess income and generally is given back to eligible members in the form of a Member Giveback. Typically included in the Member Giveback are our Loan Interest Rebate, Member Saver Reward and Visa® Debit Card Rebate.
Although this credit union benefit is not guaranteed, the Member Giveback is typically given out annually during the month of January. Since 1955, Dow Credit Union has given back a share of our earnings to members in all but one year (1979).
There are many factors, including – but not limited to – interest rate levels, yield curve, balance sheet mix and risk, capital (net worth), the current and future economic environment, and regulatory changes.
No, but a Giveback has occurred every year since 1980 and in all but one year since 1955.
Although this credit union benefit is not guaranteed, the Loan Interest Rebate for the Rebate-Eligible Visa Credit Card is typically deposited to the Prime Share Account no later than January 31.


Still have questions? Contact us.