Dow Credit Union

Nonprofit profile at a glance

EIN
380495567
IRS 990 coverage
2010–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Midland, MI, US
Phone
989.835.7794 or 800.835.7794
Rating confidence
Limited

Official website

Reported finances

Revenue
$117,116,968
Expenses
$110,668,603
Assets
$2,387,960,968
Liabilities
$2,197,364,883

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

19 people listed

Executive titles in this filing

  • MICHAEL GOAD (CHIEF EXECUTIVE OFFICER)
  • DENNIS HANSON (FORMER CEO)

Highest reported compensation

  • MICHAEL GOAD (CHIEF EXECUTIVE OFFICER): $1,391,543 total reported compensation
  • MARK GANDY (CHIEF INFORMATION OFFICER): $465,663 total reported compensation
  • SANJAY AHLUWALIA (CHIEF FINANCIAL OFFICER): $462,218 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Experience tailored financial solutions that help your business operate smarter, scale faster, and thrive with confidence.

What it reported doing in 2024

Dow credit union is a Michigan state-chartered credit union providing approximately 82,706 members with affordable loan account services, savings, checking accounts, and various electronic based services including atm access and online banking. As a cooperative financial institution, we strive to provide outstanding member value and are committed to providing services and solutions that will improve our members' financial life. We offer lower rates on loans, higher rates on deposits and charge very few/low service fees. We have served our members for over 80 years.

Operating model

Revenue model
Earned-program. 63% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 82
  • Accountability: 100
  • Sustainability: 61
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 5.5%; rating input score 59; 59th percentile among comparable filings
  • Total-asset coverage ratio: 21.58; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.92; rating input score 11; 11th percentile among comparable filings
  • Officer compensation ratio: 3.9%; rating input score 27; 27th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 7.9% per year; rating input score 100; 66th percentile among comparable filings
  • Asset growth: 4.3% per year; rating input score 100; 30th percentile among comparable filings

Details

  • What they do: 3 operating locations identified
  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 8 of 8 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $1.4M · 19 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $4.4M reported
  • Consistency: 12 of 12 current checks pass
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 11 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Sustainability: Operating margin scored 59/100.
  • High — Sustainability: Liabilities to assets ratio scored 11/100.
  • High — Sustainability: Officer compensation ratio scored 27/100.