MIDLAND, Mich. -- Dow Chemical Employees’ CU wrapped up its yearlong 75th anniversary celebration by paying members $11.5 million in in year-end rebates and rewards on loans and share/deposit accounts.
Members of the $1.4 billion credit union received a Loan Interest Rebate, which rebated borrowers in good standing 50% of the total interest they paid on all eligible loans during 2012; a Member Saver Reward, which gave depositors in good standing an additional 50% of the dividends/interest they earned shares/deposits in 2012; and VISA Check Card rebates of 0.125% of all signature-based transactions during 2012 and $0.01 for each PIN-based transaction during 2012.
In 2011, the credit union gave back a total of $7.3 million.
“We return part of the credit union’s earnings back to our members because they are the owners of the credit union,” said Dennis Hanson, president of the credit union. “We are pleased to wrap up our 75th anniversary on such a high note.”