Dow Chemical Employees CD Promotes 36-Month CD


UPDATE 3/29/2019: The Premium Rate 36-month CD rate has fallen to 2.90% APY.

UPDATE 3/28/2019: I’m sorry that I received no warning yesterday of this deal ending, but today the credit union is now saying this 3.65% Premium Rate 36-month CD is ending today. Our early deal finding had difficulty this month. We’ll work to find the deals earlier in April.

Deal Summary: 36-month Premium Rate CD, 3.65% APY, $1k min/$250k max deposit

Availability: Easy membership requirement

Michigan-based Dow Chemical Employees’ Credit Union (DCECU) is currently offering a 36-month Premium Rate CD that earns 3.65% APY. The minimum opening deposit for the Premium Rate CD is $1k, with a balance cap of $250k. There is also a maximum total deposit of $250k per member. According to CSR, there is no specified end-date for the Premium Rate CD. In other words, it’s available until it's not.

CSR provided the following information in a Live Chat.

Me: If I am interested in opening the 36-month Premium Rate CD, how do I go about funding it?

    CSR: It can be completed either online or over the phone, the funds just need to be in your account first. You would have the option of wiring funds to your account once it is open, or mailing a check to the credit union.

Me: Do you utilize ACH transfers for funding?

    CSR: Absolutely. You’ll be provided with your ACH account number upon completing the membership application and can use that in conjunction with our routing number to have funds sent electronically.

Me: What is the early withdrawal penalty on the 36-month Premium Rate CD?

    CSR: The penalty for early withdrawal is 365 days of interest on the amount withdrawn.

Me: Do you do a hard pull when I open a CD?

    CSR: There is a credit inquiry completed upon approving your membership application, but not for opening subsequent shares like certificates.

Me: How can I get my money at the end of the three years?

    CSR: We can schedule specific maturity instructions to either renew into a new certificate or be transferred back to any share in the account. For instance, you can have the funds transferred to the primary share (savings account) and then withdraw as you please.

Me: Finally, how long will this CD be available?

    CSR: We don’t actually have a stated end date, so it can technically end at any time.

Thanks to DA reader, rockies, for posting this hot deal in the Forum.


While Dow Chemical Employees’ Credit Union’s name might suggest a narrow field of membership, DCECU offers almost any US citizen or legal resident a way to join.

Easy membership – Joining the Midland Center for the Arts, Alden B. Dow Museum ($35 fee) qualifies for DCECU membership. The third option under “I qualify for membership because …” on the online application is “I am a member of,” with “I want to join Midland Center for the Arts, Alden B Dow Museum.” Selecting this option enables you to join both DCECU and the museum simultaneously.

Employment – Employees and retirees of more than 65 companies are eligible to join. The largest of these companies are Dow Chemical Company, Dow Corning Corporation, and their affiliated companies.

Stock Holders – Individual owners of stock in The Dow Chemical Company, its affiliates or successor entity also qualify for membership. (“Individual owners of stock” refers to stock not held within a trust, retirement, 401K or other investment plan).

Family Relationship – Family and household members of membership-eligible individuals are welcome to apply.

Joining DCECU and/or opening a Premium Rate CD can be done online, or at the sole branch, located on Lyon Road in Midland, Michigan.

Credit Union Overview

Dow Chemical Employees’ Credit Union has an overall health grade of "A" at, with a Texas Ratio of 1.40% (excellent), based on December 31, 2018 data. DCECU has an above average capitalization level (10.64%), the result of holding $1.63 billion in assets with $173.27 million in equity. Please refer to our financial overview of Dow Chemical Employees’ Credit Union (NCUA Charter # 60137) for more details.

Dow Chemical Employees’ Credit Union is currently Michigan’s ninth largest credit union, with nearly 65,000 members and assets in excess of $1.6 billion. DCECU was founded in 1937 after members of the Michigan Credit Union League explained the concept of a credit union to Dow Chemical management and labor representatives. The original FOM included all Dow Chemical employees, who were able to join with a 25¢ membership fee. Once membership was established, members could purchase shares in the Credit Union, at a cost of $5 each. At the end of the first year, DCECU had 338 members, assets of nearly $40k, and had issued nearly $4,990 in loans.

How the Premium Rate CD Compares

When compared to the similar length-of-term CDs tracked by that require a similar minimum deposit and are nationally available, Dow Chemical Employees Credit Union’s 36-month Premium Rate CD APY currently ranks first.

The above rates are accurate as of 3/28/2019.

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

Related Pages: Flint CD rates, 5-year CD rates, nationwide deals

Sam Kiggle
Sam Kiggle   |     |   Comment #1
Available 1 March.
HeadsUp   |     |   Comment #2
Just called and talked to them. The CSR says the rate ends today. So no way anyone will have time to open an account and send funds. It will be $35 membership fee wasted.
QED   |     |   Comment #3
Wow. That's all I got. Just wow.
deplorable 1
deplorable 1   |     |   Comment #4
Now they are pulling the offer because Ken posts it? This is getting crazy. I think we need a hidden forum for posting deals now.
mathewp   |     |   Comment #6
I agree or even simpler how about Ken establishes a protocol that posts the deals only if a bank or a CU publishes the end date and the deal is published only if a regular customer has enough time to open an account, get ACH or check deposited. Otherwise why give free coverage to a bank or a CU and save them marketing $s to attract funds and then do wrong with the users on this forum.
Bill Barr
Bill Barr   |     |   Comment #11
This is terrible. Something has to be done about this.
larry   |     |   Comment #24
Like I said yesterday this is very weird
Bill Barr
Bill Barr   |     |   Comment #28
This is very weird. I think they may be pulling something.
highrate   |     |   Comment #20
perhaps they are pulling it because it was posted here and then they got more demand than expected. Remember this is a small credit union and has only one branch
highrate   |     |   Comment #21
you could probably drive there
cry babys
cry babys   |     |   Comment #13
sometimes things just suck.
Bill Barr
Bill Barr   |     |   Comment #18
This should not suck like this.
Anon   |     |   Comment #5
Thank you for saving me the trouble.
losingtrader   |     |   Comment #7
Theoretically possible to open today.
More interesting is the year end dividend levels have been 60-75%
Sylvia   |     |   Comment #8
This CD is exempt from year-end bonus. "Our Premium Rate CD offers our highest APY for the term of the CD but is not eligible for the potential year-end Member Saver Reward."
mathewp   |     |   Comment #9
This cd is not eligible for special dividends. FYI.
pgroove_fan   |     |   Comment #19
LT, I'm so glad that you pointed this out.

While the Premium Rate CD offer does not count towards their "member saver rewards" that I think you mean by "dividend level", all of their other CD offers DO count towards those rewards. I had decided not to pursue this offer because the rates I expected for after this matured weren't competitive and I'd just be closing the account at maturity. But with the 50%+ interest bonus from the last 7 consecutive years, their effective CD rates become quite competitive indeed.

There's no guarantee of future bonuses, but those of you who initiated membership may want to investigate the other CD's with that bonus as a possibility. The standard 36 month CD is listed at 2.90%, so it would only take a 25.8% saver reward each year to generate the same 3.65% as the premium offer.

EDIT: I subsequently noticed that the text below their historical bonus graph suggests that the bonuses will not likely remain at the recent high levels.  Seems they were depleting some excess capital that had built up and returned it to the existing members via this mechanism.  Expected long-term bonus is more in the 12.5-15% range.
me1004   |     |   Comment #10
So, already a moot issue, as it ends today.

Well, then just for future reference and guidance:

The talk of how to fund overlooked the possibility of funding via a shared branch -- they are in the shared branch system at least for ATMs, I could not tell if also for the branches. Some CUs are in for only the ATM use.

Re the question and answer about a hard credit pull, the question was about a hard pull, but the answer was not specific, simply said a check, which could be a soft credit pull. I find often CSRs typically don’t think, they will answer your specific question with a non-specific answer, often they don’t even know the difference between a hard and soft credit pull. You need to come back and seek the specific, and make sure they know the difference, often I find they do not know the difference.
Nothing   |     |   Comment #12
Me1004...where in the law is there a discussion of the difference between hard/soft. I submit it is merely a device to get around freeze. When a credit reporting agency says, in effect, on ones report, the following don’t count against your credit score, I say...that is false. There are plenty of “scorers” that are not an agency and it is unfounded to make that statement...and if true the rules could change tomorrow and be retroactive. Finally when a bank I use solely for checking, use the following to get access “account maintenance,” it is a fraud! I’m the creditor. To get a federal approved drivers license none of that involves credit reports. I have global entry/access and no report was involved
Sylvia   |     |   Comment #14
They're in shared branching to the same extent as Alliant, which means barely. No use of branches, only some ATMs. When entering my zip code in locator, I get mainly ATMs that are located at 7-Eleven. Those that accept deposits are even more limited and usually deposit amounts are capped. Plus, to use them, you would need a debit/credit card from home CU. Maybe an okay solution if you're already a member with small checks to deposit, otherwise not practical for new members looking to fund CD.
losingtrader   |     |   Comment #15
I can't deposit $10 million through 7-11 ATM?
Sylvia   |     |   Comment #16
I do know of an ATM for which $10 million would not be a problem. Just write check out to my name. I will make sure your check gets deposited correctly. Seriously, none of the 7-11 ATMs appear to accept deposits, of any amount.
Ray   |     |   Comment #17
Read about this today and called this credit union. It ends today unless I can gt the funds into my account by close of business. If I did an ACH transfer today the funds would not be in my account. I asked about a shared branch and was told they were not part of that network. The CSR said they had it since March 1, but I just saw it today. So once it is posted here, I guess we have only a few hours before the special rate is pulled off.
HPP   |     |   Comment #22
Are there any other sites that might publish cd promotions faster? (BTW I love this site)
decades   |     |   Comment #23
was getting ready to qualify by buying 1 share of DowDupont
northsider   |     |   Comment #25
I'm a big fan of Ken and this site.
I don't know how he collects CD promotion information, but I'm sure it's not easy particularly when banks and credit unions change their rates without notice. So let's thank Ken for all his great work.
Also, if you find out that a promotion has ended, email Ken to let him know.
losingtrader   |     |   Comment #26
Anyone want to form a group where we each check100-200 CU's every day? If so email my screen name Basically looking for 50 people max and likely can check the local CU's easily as they may be advertised.
mathewp   |     |   Comment #27
Had to jump through hoops. I submitted the application last night and mailed PDF of Drivers' license through online email instead of waiting for a call. Their account opening process was pretty efficient. This AM the Online Banking site was functional and account# available under Profile. Since they don't accept ACH with account opening beyond $499, had to do a wire transfer from my bank to them. Barely 30 min after my bank withdrew funds their OLB showed the balance updated. Immediately I could open the CD and lock in the rate for 3 years. I believe this rate is a good insurance as if rates go up they wont by much and more importantly the short term rate trend is stable of going down. So hate that this was ending today when posted yesterday in the forum but good thing is the CU was very efficient and delivered on its commitments with a smooth process.

Total cost for me $35 Membership fee + $30 wire transfer fees. But the 50bps higher than the alternate CD I was planning to open compensates for the same. But the process had to go perfectly for me to be able to lock this down. Definitely not easy to replicate.

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