Best in the Country: Dow Credit Union’s 3-Month Simple CD Earns Top Spot at 4.40% APY

July 11, 2025

Midland, Michigan – Dow Credit Union has been nationally recognized for offering the highest-yielding 3-month certificate of deposit (CD) in the country, with a 4.40% APY1, according to both Investopedia2 and DepositAccounts3 as of July 10, 2025. This distinction highlights the credit union’s growing reputation for delivering exceptional value to its more than 83,000 members across all 50 states and in 40 countries. 

 

“In a high-rate environment where many institutions are scaling back, we’re leaning in—delivering top-tier returns that help our members make the most of their money,” said Sanjay Ahluwalia, Chief Financial Officer of Dow Credit Union. “Our goal isn’t just to offer great rates—it’s to empower our members to thrive financially.”

 

Although it operates only two branches—in Midland and Saginaw—Dow Credit Union is the largest financial institution headquartered in the Great Lakes Bay Region, with $2.5 billion in assets. Its lean operating model—with an expense ratio nearly half that of peer institutions—enables it to reinvest savings into better rates and services. This efficiency helped the credit union become the fastest-growing institution in deposit growth in the region in 2024.

 

“Efficiency is our edge,” Ahluwalia added. “By keeping our costs low, we’re able to offer higher savings yields, lower loan rates, and meaningful rewards—benefits many other institutions simply can’t match.”

 

The credit union recently expanded membership eligibility to all Michigan residents and launched its Preferred Checking Account, which offers up to 5.12% APY on balances up to $20,000. Members can earn over $1,000 annually by meeting simple eligibility requirements.4 This complements other member-focused initiatives, such as the elimination of non-sufficient funds (NSF) fees.

 

“We’ve always aimed to be a top destination for savers and to put more money back in the hands of our members,” said Michael Goad, President and CEO. “Recognition like this affirms that we’re delivering strong value while helping members achieve their financial goals.”

 

Dow Credit Union’s digital-first approach also includes tools like a streamlined direct deposit feature, allowing members to switch payrolls quickly and securely. “We want to make it easy for members to make us their primary financial institution,” Goad added.

 

The credit union’s impact is reflected in its Member Giveback Program, which returned over $18 million to members in 2024 and more than $313.6 million since its inception in 1980.5 Its CD and savings rates consistently outperform national averages, earning recognition from The Wall Street Journal6, Business Insider7, NerdWallet8, and Newsweek9, which named it one of America’s Best Regional Banks and Credit Unions for 2025.

 

To view Dow Credit Union’s award-winning CD rates, visit dowcreditunion.org/cd.

 

View Certificate of Deposit Rates

 

  1. APY = Annual Percentage Yield. Rates effective 05/02/2025 and subject to change on a daily basis. APY assumes interest payouts remain in your certificate account until maturity. Interest rate is guaranteed for the length of the term. Starting minimum deposit is $500. An early withdrawal penalty may be applied when a withdrawal is made prior to maturity of the certificate and could result in loss of principal. 
  2. Investopedia, 07/10/2025, Best 3-Month CD Rates for July 2025 
  3. DepositAccounts, 07/20/2025, Best 3-Month CD Rates in July 2025
  4. APY = Annual Percentage Yield. Rates subject to change. Preferred Checking is a free, variable-rate account with no minimum balance that pays the Preferred Rate on balances up to $20,000 when Qualifying Activities are met during the Monthly Qualification Cycle. Balances over $20,000 and all balances during cycles when qualifications aren’t met earn the Classic Rate. Qualifying Activities to earn the Preferred Rate, you must each month: (1) make at least 15 debit card purchases, (2) receive at least $900 in qualifying direct deposits, (3) sign in to online or mobile banking at least once, and (4) be enrolled in paperless delivery for all statements, tax forms, and notices. See Credit Union for details.
  5. While year-end rebates and rewards occur with great regularity, this credit union benefit is not guaranteed. Not all loan and deposit products are eligible for Member Giveback consideration. Some limitations apply.
  6. Wall Street Journal, 6/8/2023, The Best CD Rates Are from Credit Unions Right Now. Here Are the Top Offers.
  7. Business Insider, 01/2025, Best 3-Month CD Rates for January 2025
  8. NerdWallet, 9/1/2023, Standout Online Savings Accounts
  9. Newsweek, 12/2024, America’s Best Regional Banks and Credit Unions 2025
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