Wall Street Journal Recognizes Dow Credit Union CD Rates

June 08, 2023


MIDLAND - Recent research by the Wall Street Journal recognized Dow Credit Union’s certificate of deposit rates for being among the most attractive in the nation, as market-wide interest rates have created opportunities for savers.1 


While record increases in market interest rates make borrowing more costly, the environment likewise creates rare opportunities for those seeking to save, according to experts. Certificates of deposit (CDs)2 represent one such example. Low-risk CDs function similarly to a savings account; however, with CDs consumers commit funds for a fixed period to lock in a higher interest rate. Unlike savings accounts, the rates on CDs are guaranteed for the duration of the term, with the caveat that the funds typically cannot be withdrawn without incurring a penalty.  


“CDs have been overlooked over the last decade due to the low-interest rate environment reducing the attractiveness of CDs," Dow Credit Union CFO Sanjay Ahluwalia said. "However, the current higher interest rate environment market is creating savings opportunities with CDs that have not been seen for years.” 


The Wall Street Journal's BuySide1 identified three “top” credit unions nationwide for their CD rates, Dow Credit Union being the only institution of the group with a presence in the Midwest. Their research also found that credit unions in general have come to outpace traditional banks through these accounts, with the average one-year CD at a bank paying 1.59% annual percentage yield compared to 5.27% APY offered for a six-month term at Dow Credit Union.  


According to the Wall Street Journal, member-owned credit unions can often pay better rates than traditional banks, as they do not contend with the same shareholder demands, "leaving more money for members." 


“CDs are a safe place to park your dollars and lock in higher savings rates," Ahluwalia said. "If you can afford to let some money sit for a while, now is a great opportunity to invest in a CD." 


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  1. 1. Wall Street Journal, 6/8/2023, 

  1. 2. Annual Percentage Yield (APY) assumes interest payouts remain in your certificate account until maturity. Interest rate is guaranteed for the length of the term. 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. Starting minimum deposit is $500. Rates are subject to change on a daily basis. Rates effective as of 6/8/2023.  Membership eligibility required.