Dow Chemical Employees Credit Union Raises 36-Month CD To 2.90% APY


Deal Summary: 36-month Simple CD, 2.90% APY, $1k minimum deposit.

Availability: Easy membership requirement.

About two weeks ago, I wrote about Dow Chemical Employees’ Credit Union’s (DCECU) 21-month Simple CD Special, which earns 2.45% APY. The minimum opening deposit is $5k and is capped at $250k. There is also a maximum total deposit of $250k per member. CSR stated there is no specified end-date for this limited-time offer. In other word, it will be available until it's not.

Soon after introducing that limited-time offer, DCECU raised the rate on its 36-month Simple CD to 2.90% APY. Unlike the 21-month Simple CD Special, the 36-month Simple CD requires only a $1k opening deposit, with no stated balance cap or maximum total deposit per member.

2.40%$1k-Dow Chemical Employees' Credit Union36 Month Simple CD
Rates as of January 22, 2020.

Neither Simple CD is eligible for the Member Saver Reward program. As stated on the Certificate of Deposit page,

Our Simple CDs offer our highest APY for the term of the CD but
are not eligible for the potential year-end Member Saver Reward.

That’s unfortunate, because DECEU gave back $19.4 million to its members for calendar year 2018. It included a “cash reward equal to 60% of the interest they’d earned on their savings.”

As of mid-September, DCECU has a new website that comes with this disclaimer,

Thank you for your patience during this transition.

I have to admit I was becoming frustrated trying to find a Truth-in-Savings or Account Disclosure; they are no longer available on the website. In a conversation with CSR, I was told that,

  • Whether you open the Simple CD Special online or over the phone, funds must be in your share account first. Funds can be transferred through ACH, wire, credit/debit card ($499 maximum) or by mailing a check.
  • Partial withdrawals are allowed, with an early withdrawal penalty of “50% of expected earnings” on the amount withdrawn.
  • There is a credit inquiry done during the membership application process, but opening subsequent accounts (like a CD) don’t trigger another credit inquiry.
  • If a CD is not renewed, maturing funds will be transferred into another CDECU account (checking/savings).


While the Dow Chemical Employees’ Credit Union 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 DCECU and the museum simultaneously.

Employment – Employees and retirees of more than 70 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 Simple CD can be done online, or at the sole branch, located on Lyon Road in Midland, Michigan.

How to join? It’s easy! Just open a DCECU Savings Account
(with a minimum $5 deposit) and a DCECU Checking Account.

In addition to participating in the CO-OP ATM network, DCECU is a member of the Alliance One Network, giving members access to more than 35,000 ATMs throughout the country.

Credit Union Overview

Dow Chemical Employees’ Credit Union has an overall health grade of "A" at, with a Texas Ratio of 1.05% (excellent), based on June 30, 2019 data. In the past years, DCECU has increased its total non-brokered deposits by $6.98 million, an above average annual growth rate of 0.47%. 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 more than 67,000 members and assets in excess of $1.7 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 Simple CD Compares

When compared to 203 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 Simple CD APY currently ranks first.

How the Simple CD Special Compares

When compared to 207 similar length-of-term CDs tracked by that require a similar minimum deposit and are nationally available, Dow Chemical Employees Credit Union’s 21-month Simple CD Special APY currently ranks second.

The above rates are accurate as of 10/25/2019.

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

kcfield   |     |   Comment #1
Ken: Your website notes that the EWP is 50% of expected earnings on the amount withdrawn. That seems to be a rather steep EWP. (\see:
Duck   |     |   Comment #2
Opened account yesterday it was very easy had account set up everything completed except to send them my holdings in Dow all done within 30min late on a Friday.
To the other commenters not unlike kcfield I believe EWP is not steep enough if I was a bank I would make any withdrawal at least a full forfeiture from said commitment for an allotted amount of time an the allotted amount of funds as that is what this is. People really need to understand what you signed and not only lose interest but some principal also. Maybe then customers would understand that to get this or any rate is a COMMITMENT for that time not only on the institution but you the customer.
Not literate
Not literate   |     |   Comment #4
Duck, you could educate yourself on the concept of interest rate hedge.

Can you balance a checkbook?
83rahgj228   |     |   Comment #3
Easy to join, very helpful telephone customer service. My membership was approved instantly after doing online application, and I'm happy with the 2.9% for 3 years. At the same time I also applied for membership in Blue Federal Credit Union to get 3% for 5 years, but their process is now dragging out for two weeks. The people at Blue are not responsive, and I will not fund the CD. If they make it this difficult to put money in, I'm afraid of what it will be like to get money back at maturity. I don't trust Blue after the way they keep asking for more documents and stalling. But Dow is an absolute pleasure to work with and I hope they stay this way so I can stay with them for a long time.
Dow Chemical Employees' Credit Union Adds 21-Month CD, 2.45% APY
Deal Summary: 21-month Simple CD Special, 2.45% APY, $5k min/$250k max deposit.

Availability: Easy membership requirement.

For a limited time, Michigan-based Dow Chemical Employees’ Credit Union (DCECU) is offering a 21-month Simple CD Special, which earns 2.45% APY. The minimum opening deposit is $5k. There is a maximum total deposit of $250k per member. CSR stated there is no specified end-date for this limited-time offer. In other word, it will be available until it's not.

As stated on the landing page,

Our Simple CDs offer our...

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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...

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