Dow Credit Union Preferred Checking Ranked One of Best Checking Accounts in the Country

Midland, Michigan — Dow Credit Union has been recognized by Kiplinger Personal Finance magazine as offering one of the top-yielding checking accounts in the United States, ranking #4 in the country in the magazine’s May 2026 issue. The recognition highlights Dow Credit Union’s Preferred Checking account, a high yield rewards checking product designed to help members earn more from their everyday banking.

Preferred Checking reflects Dow Credit Union’s ongoing commitment to delivering exceptional value to its nearly 84,000 member owners across all 50 states and more than 40 countries. With the potential to earn over $1,000 annually, the account combines industry leading rates with simple, easy to meet requirements—making it straightforward for members to earn top tier returns through everyday banking, without sacrificing convenience.

“We are deeply honored to be recognized by Kiplinger as one of the top checking accounts in the country,” said Michael Goad, President and CEO of Dow Credit Union. “This distinction affirms what drives us every day—putting our members first. Each decision we make is centered on helping our members keep more of their hard-earned money, build lasting financial confidence, and move closer to their goals. Recognition like this tells us we’re delivering on that promise.”

Industry-Leading Rewards Built for Everyday Banking

Dow Credit Union’s Preferred Checking account rewards members for everyday financial behaviors. Every new account automatically earns 5.12% APY1 during the first month of enrollment, with ongoing opportunities to earn the same high rate by meeting a few easy monthly requirements.

Members who qualify each month enjoy:

• 5.12% APY Preferred Rate on balances up to $20,000, which can add up to over $1,000 a year in interest
• Monthly interest deposited directly into their checking account
• Access to Dow Credit Union’s lowest loan rates, including automotive and recreational vehicle loans

To qualify, members simply use their debit card 15 times per month, enroll in electronic statements, log into online or mobile banking at least once each month, and maintain a monthly $900 direct deposit into their account—making it easy to earn exceptional returns.

Rates That Truly “Wow”

According to Sanjay Ahluwalia, Chief Financial Officer of Dow Credit Union, Preferred Checking is part of a broader strategy focused on delivering industry leading rates while aggressively reducing fees.

“Our rates consistently rank among the best in the country, and that’s the result of a deliberate, disciplined approach and a highly efficient cost structure,” Ahluwalia said. “We strive to offer rates that truly ‘wow’ while also reducing financial friction for our members. Too often, financial institutions promote strong rates and then try to make up the difference with fees. We’ve taken a different approach—offering outstanding rates and eliminating NSF fees entirely. We believe members should never be penalized for short-term challenges, and it’s that combination of low fees and consistently exceptional deposit and loan rates that truly sets Dow Credit Union apart.”

Dow Credit Union has earned multiple national recognitions over the past year, including being named among the top CD rates in the country by Investopedia, DepositAccounts, and Business Insider2. With lower fees than most competitors and a focus on meaningful member value, the credit union continues to act as a multiplier for good, reinvesting in both its members and the communities it serves.

Open to All

Goad emphasized that Dow Credit Union’s impact extends far beyond its regional roots.

“One of the things I’m most proud of is that we’re truly open to all,” Goad said. “Everyone can join Dow Credit Union and take advantage of our industry leading products. From our top tier rates to our commitment to creating the very best member experience, we’re proving that a credit union headquartered right here in the Great Lakes Bay Region can deliver exceptional value to members—no matter where they call home. Our members can expect the same great experience whether they’re visiting us through our digital branch, calling our Member Care Center, or walking into one of our branch locations in Midland or Saginaw.”

Dow Credit Union is the largest financial institution headquartered in the region, with assets exceeding $2.6 billion, and continues to demonstrate how member owned financial institutions can lead the industry in both innovation and impact.

To learn more or to open a Preferred Checking account, visit dowcreditunion.org/checking.

1. 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.
2. Investopedia, 11/06/2025, Best CD Rate without a Maximum, Best 3-Month CD Rates for November 2025. DepositAccounts, 11/06/2025, Best 3-Month CD Rates in November 2025. Business Insider, 01/2025, Best 3-Month CD Rates for January 2025.

About Dow Credit Union

Dow Credit Union is a not-for-profit financial institution owned by its members and dedicated to being a multiplier for good. Membership is open to all, with members enjoying lower rates on loans, higher rates on deposits, no NSF fees, and convenient, anywhere banking backed by advanced security and protection. Headquartered in Midland, Michigan, and serving members nationwide, the credit union has $2.6 billion in assets and nearly 84,000 members across all 50 states and in 40 countries. Dow Credit Union offers a full range of financial services—including recently launched Business Accounts and Preferred Checking, an activity-based checking account designed to create more value for members. Its reputation for excellence has also been acknowledged by Investopedia and Business Insider for offering some of the nation’s most competitive CD rates. Dow Credit Union is insured by the NCUA and an Equal Housing Opportunity lender. For more information, visit dowcreditunion.org.