Beyond Banking: Dow Credit Union is Changing the Way Money is an Essential Wellness

The credit union was established way back in 1937 when the Great Depression was in full swing; it started with 8 members, and the asset base was only $4. It has now developed into a comprehensive financial institution that manages tens of thousands of members and assets that surpass the two billion threshold today.

The formation of the credit union was initiated by the Dow Chemical Company employees who were willing to establish a democratically shaped financial institution that would best serve their interests, rather than making profits for external shareholders. This guiding principle has been taken into account as it remains relevant in running the organization, even as it has grown its membership base beyond its initial context.

Core to the activities in Dow Credit Union is a specific purpose statement: it is to offer excellent value and service in addition to aiding the members in realizing financial prosperity. Such a member orientation is characterized by competitive pricing, low member fees, and the best interest product. Through rebates and rewards, Dow Credit Union is performing its promise not to pocket excess earnings since the idea of diminution works in the sectors of traditional banks.

Integrity, excellence, innovation, community work, and financial education are the main values of the credit union. These guiding principles could be seen in all operations, such as fee structure (no hidden charges), development activities at a community level, and financial literacy programs.

Since its foundation, the membership has been defined as the employees of Dow Chemical Company only; nevertheless, it has changed over the decades. The credit union currently serves the employees and retirees of specific employer groups, members of their families, and populations who reside in particular geographical localities focused around the location of the Midland, Michigan-based credit union.

The Special Privileges of Membership in the Dow Credit Union

Dow Credit Union is not a direct rival of the traditional banking institutions because the winning proposition it proposes to its members follows a unique approach to focus on the benefits of the members, as opposed to the corporate gains of the banking institution. Being a member-owned financial cooperative, Dow Credit Union gives back to its bankers in several ways.

There is a continuous existence of competitive interest rates among financial products for the members. Although the large banking institutions usually pay little interest on deposits in savings accounts (it is common to find rates a fraction of one percent), the members of Dow Credit Union often get rates that are multiple times higher. Similarly, loan products, including mortgages and auto loans, tend to have lower interest rates than what the traditional banks had, saving their members thousands of dollars over the life of their loan.

Arguably one of the most notable is the Dow Credit Union, which has organized itself as a profit-sharing dividend. Dow Credit Union, unlike banks, where the profit is absorbed by the outside shareholders, returns surplus earnings to its members in the form of paid dividends annually, depending on their rate of participation. This is a real dividend that shows the difference credit unions produce, directly showing members’ share when the institution prospers.

The community-oriented method also sets Dow Credit Union apart when compared to the national chains of banking institutions. Such a localized approach implies that, rather than thinking about the interests of shareholders that are far-reaching, decisions can be made with the consideration of communal effects.

Member-ownership structure is an essential change to the banking relationship. All members are entitled to an equal vote irrespective of the amount in their account, and this makes it a democratic institution and an institution where members choose the board of directors among themselves. This leadership structure makes sure that the credit union is focused on the interests of the members and not on the profits.

Dow Credit Union—Comprehensive Banking Products

The financial products available at Dow Credit Union are very extensive and are meant to accommodate the members whenever they are at a particular point in their finances. Their full portfolio of banking solutions offers competitive rates and member-focused service, and this is what makes them the best banking services since they focus on your financial prosperity.

Checking Accounts

There are options given by Dow Credit Union in checking accounts to fit various requirements. Their simple checking account has no monthly fees of any kind, as well as a free debit card and online/mobile banking. Those who want more benefits can use their premium checking, where they benefit from interest earnings on their balances, reimbursement of ATM fees, and identity theft protection. Every checking account has the option of overdraft protection and free bill pay services.

Savings Accounts

The members are given options of different savings vehicles, such as regular share account savings, which are the keystones of membership. The savings accounts normally attract very low initial deposits and pay competitive dividends. Special savings plans consist of vacation accounts, holiday costs, and youth forms of savings, where members are taught about financial literacy. The credit union has high-yield savings accounts with increased benefit interest rates for people with high balances.

Certificates of Deposits

Dow Credit Union serves its members and provides certificates with terms between 3 months and 5 years to obtain higher returns on money they do not plan to spend shortly. These certificates are also characterized by competitive fixed rates, whereby they normally surpass the rates in traditional banks. Special options encompass bump-rate certificates on which the rate can be increased once in the term and add-on certificates for which add-ons can be made after enrollment.

Money Market Accounts

Dow Credit Union money market funds exist between investment and savings products precisely because they provide better yields than the usual savings accounts, and yet they are in a liquid form. These accounts are usually characterized by tiered interest rates where the larger balances get higher rates.

Individual retirement accounts (IRA)

The tax-benefited plans assist members in creating their retirement nests of eggs at fair-pronounced rates. The IRA certificates allow for higher returns on the certificate and tax advantages of the retirement account. Dow Credit Union has retirement planning tools and services that assist individuals in identifying the most suitable IRA that meets their long-term financial plans.

Health Savings Accounts (HSA)

Dow Credit Union outfits the high-deductible health plan members with HSAs, where they enjoy tax advantages with proportional management of medical expenditures. These accounts include competitive interest rates, easy access with debit cards allocated exclusively to medical costs, and full online options to keep records of medical expenses.

Accounts of young people and students

Dow Credit Union is a union that considers financial education to be a commitment, so it provides special accounts to children and students. These include the accounts with no minimum balance requirement, no monthly fees, and learning materials that enable young members to build positive financial habits. Other things that may be present in student checking accounts are budgeting calculators and parent monitoring.

Business Banking Solutions

In addition to personal banking, Dow Credit Union offers special checking and business banking services, merchant services, payroll services, and business lending. They have competitive fee structures and business banking specialists to support them in their businesses, and these specialists are well aware of local market conditions.

Digital Services Banking

Every type of account enjoys the full advantage of the deep digital banking system offered by the Dow Credit Union that incorporates a convenient mobile application, online access to bank accounts, mobile deposits, account notifications, and secure person-to-person money transfers. These online health applications enable the members to control their finances at any time and from any place.

Complementary Financial Service

In order to develop a complete financial account, the Dow Credit Union adds investment services, investment options, and financial planning tools, as well as enlightenment classes, to all its banking services.

Dow Credit Union Loan Options: Full Guide Of Dow Credit Union Loans

Dow Credit Union can give the members a wide array of loan products that can serve multiple financial requirements. And whether you need a mortgage or an auto loan, debt consolidation service, or even to finance a significant expenditure, the Dow Credit Union will offer you competitive rates at flexible terms to help you accomplish what you want.

Personal Loans

Personal loans offered by Dow Credit Union are flexible: they help you get money to use for different needs.

1. Personal Loans (unsecured): The loan is not secured by collateral, and the rates are competitive depending upon the creditworthiness of the individual seeking the loan.
2. Debt Consolidation Loan: Put your debts that have a higher interest rate together into a single low-interest loan.
3. Short-term Loans: Instant loans of small amounts of money, where the procedure becomes easier.

Online account management, protection against fraud, and zero annual charges apply to all credit cards. Promotional balance transfer rates can also be used by the members to consolidate a wide range of credit card debt.

Home Equity Options

Take advantage of all that the Dow Credit Union home equity products have to offer when you use the strength of your own home:

• Home Equity Loans: Specific repayment loans at a fixed rate that can be in the form of lump sums.
• Home Equity Lines of Credit (HELOCs): The revolving lines of credit with flexibility of access to a line of credit during the draw period up to the final draw of the balance on the line.
• Cash-Out Refinancing: Refinance the mortgage you have and borrow more than the existing mortgage and pay it off in cash

Application Process

The possibility of taking a loan at the Dow Credit Union is convenient and easy:

1. Internet Use: Buy the safe piece of software through the credit union’s website
2. In-Branch application: Visit any of the branches and get personal assistance
3. Phone Application: You can speak here with a loan specialist to apply using the phone
4. Paperwork: Fill out the needed papers, such as the confirmation of income and identification
5. Application Review: The officers record your application, and your creditworthiness is verified by the loan officers.
6. Approval and Closing: Get your approval worked out, read the loan terms, and do the closing step. With a negative attitude, many would usually approach a mortgage lending process, but it is wise to note that there are various stages involved in the mortgage lending process.

Current Health-care Coverage Rates and Terms

• Mortgage Rates: 30-year fixed-term, Minimum 4.25 percent APR
• Auto Loan Rates: Brand new cars, low rate at an automatic payment as low as 3.49% APR
• Credit Card APR—10.99-10.99 floating range APR
• Home Equity Rates: 5.75 % APR variable, fixed-rate home start lines of credit, and 6.25% APR variable home equity lines of credit

Digital Banking Solutions of Dow Credit Union: The Future of Financial Technology

Dow Credit Union has positioned itself at the frontline of technological and digital banking and, therefore, gives its members an elaborate package of technological services that ensure convenience and safety in handling their finances. The digital ecosystem that the credit union has to offer includes such solutions as the enriched mobile application, state-of-the-art online banking systems, and other features that are focused on providing members with maximum convenience and safety.

The Dow Credit Union mobile app enables you to have a portable branch in your pocket because you have the opportunity to manage your accounts any time you want. The members are able to quickly check the pretty, see the history of transactions, and create personalized alerts showing account activities. The convenient design of the app allows users to perform complicated banking tasks with ease, even those users who are not so fond of technology.

In addition to the simple checking and account monitoring, the mobile app has advanced capabilities such as mobile check deposit, where the members can just take a photo of a check and it will be processed instantly. The bill payment center, which is a feature within this application, centralizes all the payment operations within a convenient place so that members can make one-time or frequent payments to any payee virtually.

The online banking site fulfills the mobile experience with increased functionality that is more desktop-friendly. Members can have more advanced financial planning facilities, spending analysis, and extensive account management facilities. The dashboard offered by the platform gives an overview of the financial position of a member, and all the widgets on this screen can be rearranged so that the most important data is brought to the fore.

Dow Credit Union has also adopted the current digital payment technologies, which integrate it with other apps such as Zelle (person-to-person payments), Apple Pay, Google Pay, and Samsung Pay (contactless payments). The integrations make it possible so that some members can also use money to settle whatever they want in a way they want it in online stores or brick-and-mortar stores.

Account management tools are also more than just basic transactions, but have advanced budgeting, what they call savings goal trackers, and financial wellness. Members are able to automatically define expenses, have limits on spending, and receive reminders about when they have reached a desired limit. Interactive calculators for loans, retirement planning, and investment projections can also be found in the digital options of the credit union.

The ability to access all accounts via multi-factor authentication remains the priority of security in Dow Credit Union’s digital strategy. Additional options in biometric verification are introduced, such as masks, fingerprints, face, and voice authentication, as introducing extra protection, yet not at the cost of convenience. The systems under real-time fraud monitoring constantly scan to identify suspicious activities, and when there is a suspected problem, they immediately alert members about the same.

The credit union keeps upgrading its IT base to adopt the most current technological findings in the world of fintech. New features are AI-screened chatbot support to provide members with support on the spot, predictive banking with an ability to state the needs of a member based on their historical behaviors, and increased levels of encryption that go beyond industry standards in protecting data.

As it is seen, Dow Credit Union does not refer to adopting technology at the same rate by all the members, and therefore, it offers members thorough education resources to enable them to get the best out of their digital banking process. These encompass video tutorials, interactive guides, and virtual workshops on everything to guide you in starting to work with the app and doing advanced security practices.

With such digital banking solutions, Dow Credit Union fulfills its promise of delivering to members modern financial tools that are not only convenient, secure, and innovative but also truly bring a transformation in how the members relate to their finances in the modern world that is taking on a more digital dimension.

Dow Credit Union Facility and Availability

Dow Credit Union benefits members with a well-placed network of branch offices, mostly in Michigan, in locations where Dow workers and their households stay and work. Convenient accessibility within and outside the Great Lakes Bay Region is offered since the credit union has full-service branches located in Midland (headquarters), Auburn, Bay City, Saginaw, and Grand Blanc.

Both of the branches provide full-service financial services such as personal banking support, loans and borrowing consultation, account setup, and financial advice. Drive-through services, night depositories, and 24-hour ATMs are available in most locations to meet the varied schedules of the members.

The ATM system of the credit union is more limited than that of the branches. CO-OP Network and Alliance One connections offer members surcharge-free access to more than 30,000 ATMs around the country. The network is so broad that if members want to use an ATM that is convenient to them, they can get it at Walgreens, CVS, and most branches of the credit unions nationwide, and members can always access their accounts without surcharges, no matter where they go.

Members who do not live or work in the immediate service area have access to the CO-OP Shared Branching network, through which Dow Credit Union members have access to 5,600 credit unions across the country, where they can transact business as though they were at their home branch. This is an added service, especially for members who relocate but would like to retain their membership with Dow Credit Union.

They are mainly open Monday to Friday, 9:00 a.m. to 5:30 p.m., and 9:30 a.m. to 6:00 p.m. on Fridays. In special locations, there are hours on Saturdays between 9.00 and 12.00. To be able to gauge its hours, the credit union conducts regular reviews of revenue counts and methods to maximize usage.

At the Dow Credit Union, there are educational resources and financial literacy programs.

Dow Credit Union also expands further beyond the provisions of being a typical bank to provide extensive educational materials that have the ability to provide members with decent economic knowledge and expertise. The credit union has established a comprehensive program of educational materials and tools, as they know that financial literacy is the core of sound money management.

They include personalized services of financial counseling where members have individually tailored support by certified financial counselors on various issues of spending, debt management, and retirement planning, among others. These appointments will be specific to an individual’s financial context and ambitions, making precise recommendations, as opposed to general tips.

The credit union also conducts workshops and seminars on some basic issues such as first-time homebuying, how to get credit scores, the basics of investing, and financial planning in colleges. These face-to-face meetings will allow the members to query and interact with financial experts in an amicable atmosphere.

The one that requires self-paced learning has the stress on the interactive modules, video tutorials, and the ability to download the guides on the different facets of personal finances at the online learning center of Dow Credit Union. Members can easily find answers to their questions, given that the content will be divided into life stages and financial goals, so whether you are at the beginning of a financial journey or planning how to spend the future years, you will find the necessary information.

The institution has advanced and easy-to-use financial calculators, which are hosted on its website and assist members in seeing the scenario of their loans, savings, investments, and retirement planning. These are financial tools that give members a chance to include their financial data and manipulate variables in order to view the effect that various choices will have on their financial future.

The Dow Credit Union also provides special educational services to young people, as they understand that young generations should develop proper financial habits when they are still young. The youth financial literacy program consists of the age-related content available to children and adolescents, student-oriented accounts with educational features, and the offer of scholarships to college-going members.

More than banking—Community Impact at Dow Credit Union

Being more than a traditional financial institution, Dow Credit Union has become a form of community advocacy and improvement within the territories that it has covered. The credit union will show that it cares about changing the lives of people through several ways to uphold its corporate social responsibility.

Through the community outreach programs, the practices that the credit union is involved in focus on addressing the essential needs in the local area. Their classes and workshops on financial literacy address a wide audience, starting with children and young students of school age learning about the basics of money and ending with adults, who need help with retirement planning. Such education outreach endeavors also reach areas of underserved populations where money literacy can be used to escape poverty traps and establish multi-generational wealth.

Another major investment in community development has been in scholarship programs. The Dow Credit Union annually provides serious educational grants to students who can be employed in the sphere of higher education. These need- and merit-based scholarships are sometimes geared towards funding students pursuing careers in finance, business, science, math, and engineering degrees, which culminate in future professionals who benefit the local economy.

Their charitable giving policy works on a platform between taking care of immediate community needs and making long-lasting contributions. In the meantime, they continue to care about food banks, shelters for the homeless, and health projects, helping to solve long-lasting issues in their communities.

Dow Credit Union enhances its influence in the local community through local partnerships. They have developed their program called “Shop Local,” which offers members special financing when shopping at local businesses, and in addition, they have also joined schools to include financial education in schoolrooms.

Green awareness is becoming an important issue for the credit union. Their green options are green banking, such as doing paperless banking, efficient facilities, and environmental cleanup. Some of its branches have installed solar panels and rainwater harvesting to show that they are committed to environmentally friendly operations. It also provides special loan rates on green home renovations and electric vehicles to the members.

How to join Dow Credit Union?

Becoming a member of Dow Credit Union provides an opportunity to receive competitive financial services and customized services that cater to both the Dow employees and the community around them. The membership process is simple, and the members are advised to know the particular requirements and procedures to be followed to have an easy time.

Eligibility for Membership

1. Present and past workers within the context of the organizations of Dow Chemical Company and its subsidiaries
2. Current members of the Dow Credit Union and their immediate family (i.e., spouses, children, siblings, parents, grandparents, and grandchildren)
3. People residing, employed, worshipping, or studying in the field of membership zones of the credit union.
4. People who work in some of the partner companies and organizations of Dow Credit Union have developed some kind of relationship with the union.
5. The participating organizations of a certain community that are connected with the credit union

Application Requirement Documents

Should you apply to become a member, then the following will be requested of you:

1. Photo identification: government photo identification (driver’s license, passport, or state identification)
2. Social Security number / Taxpayer Identification Number
3. Eligibility record (Dow employee identified code, family verification, live or work within the presence of membership)
4. Such funds include the first deposit (usually 5-25 dollars, depending on the type of account).
5. Address information like the current address, telephone number, and email.

Online Applying To

The process of online joining of Dow Credit Union membership is easy and approximates 10-15 minutes: Off

1. f to the official website of Dow Credit Union
2. Click on Become a Member or Join Now.
3. Under the category of eligibility, apply the relevant one to your case.
4. Download the online application form by providing your personal information.
5. Upload the files required on the safe gateway.
6. Choose the first deposit and financing strategy.
7. Select some of your other stuff that you may want (checking account, debit card, online banking)
8. Make an application for a grant.

In-Office Application Choices

For people who like personal application, Dow Credit Union has in-branch application assistance:

1. Use the credit union’s branch locating tool to locate your nearest branch.
2. You may need to provide all the necessary documentation to the branch during working hours.
3. Talk to one of the membership representatives, who will help you fill in the application.
4. Fill in the required documents and pay your down payment.
5. Confirm your membership at once
6. Your waiting period is over until you can get permanent cards/materials with temporary access to your new accounts, and you walk out.

Initial deposit and account funding Requirements

• A required minimum opening deposit to your share savings account (usually of $5-$25)
• Any minimal deposits in case of having additional accounts (additional checking accounts frequently demand 25-100 dollars)
• They may make the payment of funds through cash (this is possible only on-site), check, electronic funds transfer to the account of another bank, or debit/credit card payment. nt

Security and Financial Stability at Dow Credit Union

Dow Credit Union embraces the security of its members by ensuring solid protection systems. Account holders at the Dow Credit Union have coverage through the National Credit Union Administration (NCUA) to ensure protection of their accounts to the amount of up to $250,000 per ownership category. This federal insurance coverage is just like the FDIC insurance in banks, and it means the members’ deposits at credit unions are secure even in the event of an unlikely credit union failure.

The credit union has strong security measures in all platforms, such as multi-authentication, encryption tools, and surveillance mechanisms to identify abnormal activity. Their fraud protection services entail alerts on transactions occurring in real time, zero liability on unapproved electronic transactions, and fraud response teams that members can access.

In terms of financial stability, Dow Credit Union is performing well in the industry. As it owns more than 1.8 billion in assets, it is one of the bigger credit unions in its area. The capital ratio (above 10 percent) consistently remains within the range of the requirements of regulatory bodies and shows the great financial stability of the institution. Such a strong base of capital enables the credit union to withstand the changes in the economy and still deliver quality services to the members.

Financial health tests and stress tests of the credit union are carried out regularly to ensure its stable operation. They also have a very open financial reporting policy, which gives the members insight into the performance of the institution through quarterly and annual reports. With this financial transparency and security policy, the Dow Credit Union has managed to create long-term trust in its membership base as it continues to be considered a sound financial institution.

What are credit unions? The Dow Credit Union Advantage

Credit unions such as Dow Credit Union work on different principles from traditional banks, whereby the members have an added advantage. Although banks are profit-making organizations that should report to shareholders, credit unions are cooperative organizations that have members, and they redistribute their profits to their members in the form of higher rates and reduced fees and services.

Credit Union Difference Interest Rates: Credit Union

The Dow Credit Union has a great rate advantage in a variety of financial products:

• Savings accounts: Compared to the 0.01-0.05 percent APY that larger banks may have on their common savings, the credit union will usually give 0.10-0.25 percent or higher
• Auto loans: With credit unions, you can even win the rates of banks by 1-2 percent
• Mortgages: Members normally save 0.25 – 0.5% on rates for mortgages.
• Credit cards: On average, credit union cards have about 2-4 percent lower APR than bank cards.

Philosophical Differences

The main philosophical distinctions between the Dow Credit Union and the traditional banks involve:

• Shared profit: Returns to the members or returns to the investors
• Community investment—local reinvestment commitment will be lower.
• Field of membership: Service to a particular society or grouping in terms of communities vs. anybody at all

Dow Credit Union Wholesome Business Banking Solutions

Dow Credit Union has a well-developed package of corporate financial services intended to meet the needs of businesses of any type and size. Regardless of whether you are a small business startup, a growing mid-sized business, or an established business, Dow Credit Union can give you the tools and resources you need to handle your finances most efficiently and contribute to the growth of your business.

Merchant Services

And when you use the full selection of merchant services offered by Dow Credit Union, there can be no doubt that the payment is reached:

• The POS Solutions: Fully elaborated POS systems that are supportive of various payment technologies, including chip cards, touchless payment, and mobile wallets.
• Safe E-commerce: Online Payment Processing to accept payment processing by hosting it on your site or internet-based store.
• Mobile Payment Acceptance: It has simple-to-use mobile card readers to convert your iPhone or iPad/tablet into a payment terminal.
• Virtual Terminal: CO accepts payments without the cards.

Commercial Loans

With commercial lending services, which are provided by Dow Credit Union, you can fund your commercial business:

• Business Term Loans: Capital that involves a fixed purchase rate, growth, or payoff of current debt.
• Commercial Real Estate Financing Commercial real estate financing is bespoke finance that could be used to purchase, construct, or remodel business real estate.
• Equipment Financing: These are special loans advanced to purchase business equipment.
• Business Lines of Credit: the revolving credit that you can obtain when you need it, but temporarily, in case of cash flow crunches and other emergencies.
• SBA Loans: Dow Credit Union is a licensed SBA lender and offers the government-guaranteed loan with great lending conditions.

Payroll Solutions

Automate your payroll and get in line with the others to utilize all the benefits of Dow Credit Union’s comprehensive payroll services:

• Direct Deposit: An electronic, cost-efficient method of paying salaries of employees into accounts.
• Portal Development: Employee Self-Service Portal: Allow the employees to retrieve the pay stubs, tax forms, etc., in the area of payroll.
• Time tracking integration: Incorporation of a connection with other popular time-tracking applications.
• Multi-state payroll processing: An efficient case that involves businesses with employees located in different states.

Member Success Identity/Stories and Recognition

Dow Credit Union has gained its reputation by changing the lives of members as far as finances are concerned by offering individualized service as well as banking that is oriented towards the community. The credit union is also making its success stories regularly, which have proved its contribution to individual members and the community at large.

Fantastic Member Experiences

Several members have often used the platform to point out how Dow Credit Union has enabled them to achieve monumental financial goals. These testimonials show how the credit union can help new homeowners live the dream of successful homeownership, small business owners get the necessary funding to sustain them through difficult economic moments, and others.

A very heartwarming tale concerns a multi-generational family that deposited with Dow Credit Union more than 60 years ago. Beginning with low savings accounts, they have moved on to using the credit union to finance auto loans, mortgages, and retirement plans, as well as college savings accounts of the most recent generation. This family attributes this credit union, Dow Credit Union, as the one that has helped them accumulate and maintain wealth through generations.

Member Testimonials

Dow Credit Union was one of the few independent credit unions that went hand in hand with me to comprehend my special case and provided money to fund my small business after three major banks had rejected me. We have just gone into five years and increased to three locations, and generated 27 jobs in our local community.” – Small Owner Business.

At the time when we were financially endangered by unexpected medical payments, Dow Credit Union helped us to consolidate debt and develop a favorable debt repayment plan. The kind attitude they had towards us was the best during the crisis period.” A member of this family

The home-buying experience was a first for me, and so I felt intimidated. My Dow Credit Union manager guided me through each step and helped me find loan programs that saved me thousands of dollars in interest over offers by other lenders.” -New Homeowner.

Future of Dow Credit Union: Innovations and a strategic way

Dow Credit Union is looking to be on the leading edge of financial innovation, having a number of ambitious projects on the agenda in the following years. The leadership of the credit union has presented a working strategic vision where the advancement of technology has been merged with a member-focused strategy.

Concerning planned expansion, Dow Credit Union will have an additional two locations of brick-and-mortar branches that will open in Michigan within 18 months. These new facilities will be designed in an open concept and with closed consultation areas in accordance with the changes in the way members of society consume financial services.

In technological terms, Dow Credit Union is investing heavily in the digital infrastructure. The credit union is also in the process of expanding on its current mobile banking platform by integrating artificial intelligence to deliver individualized financial wisdom and direction to the members according to how they spend and save, their goals, etc. This new-generation application is supposed to be released by the end of the coming year and will have such features as predictive cash flow analysis and automated savings optimization.

One more feasible innovation on its way is a blockchain-powered verification system of Dow Credit Union, which serves to speed up the process of loan approving or denying (from days to minutes) and still provides a high level of security measures. The technology can also be symbolized as a major step towards the automation of the lending process.

With regard to future products and services, the credit union is branching off its sustainable bank services by establishing green loans that are tailored to going green around your house and purchasing an electric vehicle. The products will match the interest of the credit union in environmental responsibility, driven by the rising need for more finances that lean towards sustainability.

The strategic direction of these moves is concerned with what Dow Credit Union refers to as its Digital-Plus approach; that is, the merger of the latest digital possibilities with real, live human interactions.

The vision behind those efforts revolves around Dow Credit Union’s so-called digital-plus strategy, which unites the most advanced digital solutions and strong human contact. The credit union is not taking a position to think of technology as a substitute for personal service, but is strategically taking technology to support and augment the capacity of its financial advisors and member service representatives.

In the gaze of the wider industry trends, Dow Credit Union is approaching a number of meaningful changes that have taken place in the financial services environment. The ongoing consolidation that has been experienced in the credit union industry has also forced the Dow to enhance its involvement with the community and think about strategic mergers that would enhance its service provision. Also, there is an increased demand to offer fluid omnichannel experiences, and the credit union is working on systems so that the member is able to initiate a transaction through one channel (like the online channel) and finish it in another (like the in-branch) without any interruption.