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An exterior photo of Dow Credit Union headquarters in Midland Michigan.

Dow Credit Union Distributes $19.2 Million To Members As Part of Annual Giveback Program

January 04, 2024
MIDLAND, Mich., Jan. 4, 2024 /PRNewswire/ -- Dow Credit Union has announced it is paying out $19.2 million to eligible members as part of its annual Member Giveback program for 2023.

This is the 43rd consecutive year Dow Credit Union, the largest financial institution headquartered in the Great Lakes Bay region, has returned a portion of its earnings to members. Since 1980, Dow Credit Union has distributed more than $295 million to members.

"We like to celebrate our success by returning a percentage of our annual earnings to members, who make that success possible," said Dow Credit Union President and CEO Michael Goad. "This program rewards members in good standing who rely on us for loans, savings programs and debit cards.

"Throughout the year, we enjoy hearing all the exciting things members plan to do with their Giveback funds, from much-needed vacations and home improvements to putting it toward college funds and retirement savings."

Eligible members in good standing can expect their giveback in the form of rebates and rewards deposited directly into their share accounts in January.

Dow Credit Union is one of only a handful of credit unions nationwide to routinely give back a portion of earnings to its members. Dow Credit Union's 2023 Member Giveback gave back 35% of the interest that members in good standing paid on their eligible loans over the course of the year and a cash reward equal to 35% of the dividends or interest they earned on their eligible deposits and a 0.125% rebate on their 2023 Visa® debit card purchases.

"Our loyal and growing membership base, 81,000 strong, demonstrates the exceptional value we provide," Board Chair Perry Holman said. "We look forward to serving our growing base in the Great Lakes Bay region and beyond by doing what we do best – offering stellar products, services and benefits that extend into the very communities we serve."

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