Diversified Members Credit Union (MI) Offers 12-Month Add-On CD


Deal Summary: 12-month Save to Win CD, 1.00% APY, $25 minimum deposit, additional deposits allowed throughout the term. Limit of one Save to Win CD per member.

Availability: Michigan residents

The 12-month Save to Win CD (1.00% APY) offered by Diversified Members Credit Union (DMCU) is an add-on CD, which allows unlimited deposits (in any amount) throughout the term. The minimum opening deposit is $25, with no stated balance cap. There is a limit of one Save to Win CD per member

The Save to Win CD is also known as a “prize-linked savings account that offers you the chance to win prizes in addition to earning regular interest.” For each $25 increase to the CD’s balance, one entry (up to 10 entries per month/30 entries per quarter) will be added into the savings raffle for cash prizes. As stated in the Save to Win Official Rules,

Credit Union Prize Drawings totaling $10,000 dollars annually with prizes each month/quarter will be awarded to winning members as follows:



As stated in the Truth-in-Savings disclosure, the Early Withdrawal Penalty reads as follows:

During the term of the Save to Win® Certificate, account holders will be allowed to make one withdrawal from the account, with a $25.00 penalty to be assessed at the time of withdrawal. If the early withdrawal reduces the principal below the minimum balance or a second withdrawal is performed in the 12-month term, the certificate will be closed. The credit union can deduct from the principal amount to cover the penalty. The penalty for early closure is 180 days or 6 months of interest.

Funding a Save to Win CD can be done by ACH, wire transfer, or check. Maturing funds will be distributed by bank check or wire transfer, or transferred into an existing DMCU savings account. There is a seven calendar day grace period before a CD automatically renews.

DMCU participates in the CO-OP Shared Branch and ATM networks, giving its members access to more than 5,500 credit unions and nearly 30,000 surcharge-free ATMs nationwide.

In addition to our CO-OP Shared Branches, you can also access your
account for free at any credit union that participates in the Xtend Network.

Unlimited beneficiaries (equal shares) can be named, with a Social Security number required for each beneficiary.

Many thanks to DA reader, Cdbob, for his Forum post about the Save to Win CD, including the very apt comment,

Never thought this would be a good rate but oh well, it is what it is.

Give Back Checking

DMCU’s Give Back Checking is structured a bit differently than the normal rewards checking account. Rather than earning a set APY on a specific qualifying balance,

Each month that you qualify, you’ll receive $10 deposited to
your checking account and refunds up to $25 of ATM fees.

The monthly qualification requirements are easily met:

  • At least 15 debit card transactions
  • Enrolled in eStatements and online banking


Headquartered in Detroit, Diversified Members Credit Union’s field of membership (FOM) is residency based, with individuals (18 years or older) who live or work anywhere in the state of Michigan, eligible for membership.

Joining Diversified Members Credit Union and/or opening a CD can be done online or at any of four southeast Michigan branches located in Clawson, Detroit (2), and Novi. According to the Coronavirus Impact page, the branches are open for transactions, but appointments are required for other services (like opening a CD).

Join with a $5.00 initial deposit into a savings account to
become part of a member-owned, not for profit credit union.

Credit Union Overview

Diversified Members Credit Union has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 1.52% (excellent) based on June 30, 2020 data. In the past year, DMCU has increased its total non-brokered deposits by $54.46 million, an excellent annual growth rate of 17.82%. Please refer to our financial overview of Diversified Members Credit Union (NCUA Charter # 62339) for more details.

Established in 1929 as the Detroit Municipal and Detroit Metropolitan Credit Union, Diversified Members Credit Union opened its doors for business only three days after the Wall Street Crash occurred. DMCU weathered the Great Depression, as it continued to serve Detroit city workers. The FOM didn’t expand until 2009, when membership was opened to the residents of three Detroit area counties. A new name was needed to attract new members and the Credit Union rebranded as Detroit Metropolitan Credit Union. Five years later, a merger with the Iron Workers Local 25 Credit Union in Novi further expanded DMCU’s footprint and eventually led to a state-wide charter expansion. The new FOM needed a descriptive name and Diversified Members Credit Union was the best fit. DMCU is currently 41st largest credit union in Michigan, with more than 26,000 members and assets in excess of $450 million.

How the Save to Win CD Compares

When compared to the similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available to all Michigan residents, Diversified Members Credit Union's 12-month Save to Win CD APY currently ranks first.

Interest RateCD Length of TermCredit Union/Bank
1.00% APY12-Month Save to Win CDDiversified Members Credit Union
0.90% APY12-Month Share CertificateCommunityWide Federal Credit Union
0.85% APY12-Month CertificateState Department Federal Credit Union

The 12-month Save to Win CD APY also compares quite favorably with the rates currently offered on savings accounts available to Michigan residents.

Interest RateAccount NameCredit Union/Bank
1.00% APY12-Month Save to Win CD ($25 min)Diversified Members Credit Union
1.00% APYAffirm Savings (no min)Affirm
0.85% APYFitness Savings (12,500+ steps/$100 min)Fitness Bank
0.80% APYOneConnection Savings ($2.5k min)ConnectOne Bank

The above rates are accurate as of 11/21/2020.

To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.

Related Pages: Detroit CD rates, 1-year CD rates

  |     |   Comment #1
This works out pretty good. As an example, theoretically one could deposit $100,000 (or more), and if rates went up during the next year they could make a one time withdraw of $99,950 and only pay a $25 penalty instead of 180 day interest penalty. Plus it's an add on CD. Works for me.
  |     |   Comment #2
Really I understand your reasoning it's just if this where you are it's just swimming against the tide just sad all their doing is putting makeup on a pig
  |     |   Comment #3
It is just makeup on a pig, but if one must kiss a pig, I'd rather kiss the one with the makeup on.
Diversified Members Credit Union Offers 3% APY On 60-Month CD
Deal Summary: 13-month CD Special (2.50% APY), $200 min deposit, new money. 36-month CD (2.80% APY) and 60-month CD (3.00% APY), $200 min deposit.

Availability: Michigan residents

One of the “New To Summary” CDs included in last week’s CD Rates Summary was Diversified Members Credit Union’s (DMCU) 13-month CD Special (2.50% APY). The minimum opening deposit is $200 of new money, with no stated balance cap. The 13-month is also available as an IRA (Traditional and Roth), earning the same 2.50% APY with the same...

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