Dec, 31, 2023 — DOW CHEMICAL EMPLOYEES' CREDIT UNION is a federally insured state chartered credit union headquartered in MIDLAND, MI with 2 branch locations and about $2.20 billion in total assets. Opened 87 years ago in 1937, DOW CHEMICAL EMPLOYEES' CREDIT UNION has about 80,993 members and employs 182 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | DOW CHEMICAL EMPLOYEES' CREDIT UNION |
|---|---|
| Address: (Main Office) | 600 E Lyon Rd MIDLAND, MI 48640-5396 |
| Phone: | (989) 835-7794 |
| Fax: | (989) 607-6790 |
| Website: | https://www.dowcreditunion.org |
| Branches: | 2 branch locations |
| Members: | 80,993 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 60137 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1937 |
| Last Audited: | Dec 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $2,201,372,332 |
| CEO/Manager: | Michael G Goad |
| Chairperson: | Lisa McKenney |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 51,581,881 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 620,451,383 |
| Unsecured Loans | 69,013,270 |
| Other Loans | 544,625,007 |
| TOTAL LOANS | 1,234,089,660 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -6,626,825 |
| Land And Building | 7,184,709 |
| Other Fixed Assets | 1,939,761 |
| NCUSIF Deposit | 17,581,794 |
| All Other Assets | 258,291 |
| TOTAL ASSETS | 2,201,372,332 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 6,321,740 |
| Notes & Interest Payable | 5,000,000 |
| Accounts Payable & Other Liabilities | 36,667,686 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 241,037,141 |
| Regular shares | 357,322,711 |
| All Other Shares & Deposits | 1,378,991,164 |
| TOTAL SHARES & DEPOSITS | 1,977,351,016 |
| TOTAL LIABILITIES | 2,025,340,442 |
| Regular Reserve | 0 |
| Other Reserves | -49,715,192 |
| Undivided Earnings | 225,747,082 |
| TOTAL EQUITY | 176,031,890 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 2,201,372,332 |
| INCOME & EXPENSE | |
| Loan Income | 45,143,649 |
| Investment Income | 33,729,144 |
| Other Income | 2,731,852 |
| Total Employee Compensation & Benefits | 16,790,394 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 18,333,271 |
| Non-operating Income & (Expense) | -1,034,473 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 3,262,398 |
| Cost of Funds | 50,179,188 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 7,644,033 |
| ↑ Back to Top | |