Dow Credit Union Adds Nationally Available 13-Month CD Special


Deal Summary: 13-month Simple CD, 5.76% APY, $500 minimum deposit.

Availability: Easy membership requirement.

Michigan-based Dow Credit Union (Dow CU) has added a 13-month Simple CD Special, which earns a competitive 5.76% APY. The minimum opening deposit is $500 with no stated balance cap. CSR stated this is a limited-time offer, but there is no specified end-date for. In other words, it will be available until it's not.

5.76%$500-Dow Credit Union13 Month Simple CD Special
Rates as of December 7, 2023.

The 13-month Simple CD Special is not 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 Dow CU gave back about $14 million to its members (about $181 each) for calendar year 2022. This "give-back" included a,

cash reward equal to 40% of the dividends/interest they earned on their eligible deposits in 2022. Members in good standing also will receive a .125% rebate on their combined total signature-based and PIN-based Visa® Debit Card purchases for the year.


Headquartered in Midland, Michigan, Dow Credit Union’s field of membership (FOM) offers almost any US citizen or resident alien (18 years or older with a valid Social Security number) a way to join.

Easy membership – The first “Select your eligibility” option on the online application reads, “Make a $10 Membership Qualifying donation to the Dow Credit Union Multipliers for Good Fund administered by the Midland Area Community Foundation." Selecting this option enables you to join Dow CU and the foundation simultaneously.

Employment – Employees and retirees of nearly 100 companies are eligible to join. The largest of these companies are Dow Chemical Company, the former Dow Corning Corporation, and their affiliated companies.

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

Association Affiliation – Members of the Midland Area Community Foundation, the Midland Center for the Arts, Alden B. Dow Museum, the Great Lakes Loons Founders Club, or the Midland Country Club are eligible to join.

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).

Joining Dow CU can be done online or at either of two full-service Michigan branches, located in Midland and Saginaw.

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

According to CSR, current Dow CU members can open a Simple CD using the Dow CU online banking platform. While the CD page has an “Open CD as New Member” button, it is linked to the new member online application that does not list any CDs. Once a membership application is approved, you will be contacted by a Dow CU team member and they will walk you through the process of opening/funding a Simple CD.

Funding and Other Details

The following information is from a conversation with a very helpful CSR.

  • Funding – ACH, wire (no fee), check, debit/credit card ($499 maximum), or internal transfer. Funds must be in your Prime Shares account before a Simple CD can be opened.
  • Ownership – Individual, joint, or trust.
  • CO-OP Shared Branch Participant – No.
  • Early Withdrawal Penalty - Partial withdrawals allowed, with an Early Withdrawal Penalty of “50% of expected earnings” on the amount withdrawn. Principal is not protected.
  • Dividends – Compounded daily/credited monthly. Automatic transfer of credited dividends to a Prime Shares account can be set up when opening a Simple CD. If dividends are withdrawn after they have been deposited into a Simple CD, EWP will apply.
  • Maturing Funds – Internal transfer to a savings account.
  • Beneficiaries* – Unlimited with equal shares; Social Security numbers required for all beneficiaries.
  • Grace Period – 7 calendar days before automatic renewal.
  • Credit Check – Hard pull when joining.

*CSR made a point to letting me know it is important to let all beneficiaries know they have been designated as a beneficiary. Dow CU will not release any funds until all beneficiaries contact the credit union.

Credit Union Overview

Dow Credit Union has an overall health grade of "B" at, with a Texas Ratio of 1.04% (excellent), based on June 30, 2023 data. In the past years, Dow CU’s total non-brokered deposits decreased by -$80.36 million, a below average annual growth rate of -4.07%. Please refer to our financial overview of Dow Credit Union (NCUA Charter # 60137) for more details.

Dow Credit Union is currently Michigan’s tenth largest credit union, with nearly 79,000 members and assets in excess of $2.1 billion. The original Dow Chemical Employees’ Credit Union 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.

According to a June 2022 CU Times article, the DCECU rebranded as Dow Credit Union re-brand to “reflect its expanded field of membership.”

Like many credit unions, Dow Chemical Employees’ Credit Union has expanded its membership eligibility far beyond the original workplaces it served at its inception. To reflect this evolution, the $2.2 billion, Midland, Mich.-based credit union decided to drop “Chemical Employees’” from its name and will be known as Dow Credit Union beginning later this year, according to a Wednesday announcement.

“Simplifying and streamlining our name to Dow Credit Union makes sense for us as we celebrate our heritage and ongoing service to Dow while recognizing the broader base of our membership and our growing role in the Great Lakes Bay Region of Michigan,” DCECU CEO Michael Goad stated. “We look forward to using this name change and brand refresh as an opportunity to reintroduce ourselves to the members and communities we serve.”

How the 13-Month Simple CD Special Compares

When compared to similar length-of-term CDs tracked by that are available nationally, have fixed rates, and have minimum deposit requirements of $10k or less, two credit unions have higher rates than currently offered on the Dow Credit Union 13-Month Simple CD Special. The following table compares the 13-Month Simple CD Special to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.

APYCD Term (Early Withdrawal Penalty)Credit Union/Bank
6.18%12-month Share Certificate Special ($100k max) (EWP=lesser of all dividends or 90 days)Bayer Heritage Federal Credit Union
5.80%12-17 Month CD (EWP=greater of $50 or 270 days)Credit Human
5.79%13-Month Simple CD Special (EWP=50% of expected earnings)Dow Credit Union
5.65%12-Month Online CD (EWP=90 days)Forbright Bank
5.65%12-Month Online CD (EWP=180 days)BMO Alto

The above information and rates are accurate as of 11/17/2023.

To search for the best CD rates, both nationwide and state specific, please refer to our CD rates table page.

Related Pages: Flint CD rates, 1-year CD rates, nationwide deals

  |     |   Comment #1
Kudos to Ken,
for brining to our attention that Dow CU CD Regular stands to be more lucrative than CD Special,
Though CD Comparison becomes more complicated
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.

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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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