The $1.4 billion, Midland, Mich.-based Dow Chemical Employees' Credit Union announced a return of $11.5 million to members in rebates and rewards for 2012 — its largest year-end member giveback to date.
The payout stemmed from three different sources: a loan interest rebate, which gave borrowers 50% of the total interest they paid on eligible loans in 2012; a member saver reward, a payback comprising 50% of the dividends and interest members in good standing earned on their shares and deposits in 2012; and a Visa check card rebate, which provided card holders with a 0.125% rebate on all signature-based transactions and one cent for all PIN-based transactions throughout the year, DCECU said.
"At DCECU, we believe in giving back," said Dennis Hanson, president/CEO at DCECU. "We return part of the credit union's earnings back to our members because they are the owners of the credit union. We are pleased to wrap up our 75th anniversary on such a high note."
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Natasha Chilingerian
Natasha Chilingerian has been immersed in the credit union industry for over a decade. She first joined CU Times in 2011 as a freelance writer, and following a two-year hiatus from 2013-2015, during which time she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union), she re-joined the CU Times team full-time as managing editor. She was promoted to executive editor in 2019. In the earlier days of her career, Chilingerian focused on news and lifestyle journalism, serving as a writer and editor for numerous regional publications in Oregon, Louisiana, South Carolina and the San Francisco Bay Area. In addition, she holds experience in marketing copywriting for companies in the finance and technology space. At CU Times, she covers People and Community news, cybersecurity, fintech partnerships, marketing, workplace culture, leadership, DEI, branch strategies, digital banking and more. She currently works remotely and splits her time between Southern California and Portland, Ore.
