Dow Credit Union branch reports $3.4 million in deposits after grand opening week

SAGINAW TOWNSHIP, MI (October 3, 2023)Dow Credit Union’s first branch in Saginaw County reported a cumulative $3.4 million in deposits after its Grand Opening Week from Sept. 25-29, dramatically outpacing already high expectations. 

 “Our grand opening festivities brought out so many different people,” Ryan Carter, a specialist with their community outreach team, said. “We got to hear from existing members thrilled to have a location closer to home, and people meeting us for the first time were excited to learn how easy it is to become a member.” 

 Offering the same products available at the credit union’s Midland headquarters, the team at 5420 Gratiot Road began welcoming new members a month ago during the facility’s soft opening.  

 Chief Financial Officer Sanjay Ahluwalia believes many in the community identified the credit union as their best option to maximize earnings. As of September, the award-winning institution’s high-yield savings account carries annual percentage yields (APY) up to seven times the national savings average’s APY, according to NerdWallet.1 Furthermore, Dow Credit Union’s certificate of deposit (CD)2 rates ranked among the best in the nation, earning recent accolades from Business Insider, Investopedia, and The Wall Street Journal.3  

 “As a credit union, we are member-owned, and as such we can return value directly to our members, rather than to Wall Street shareholders,” Ahluwalia said. “We have developed a loyal member base over many years that has in turn created a very efficient cost structure for us. This means we can provide our members with better rates than they would find elsewhere.” 

 In addition to favorable rates, branch manager Emily Migut believes the credit union’s Member Giveback program on eligible products was instrumental in recent successes. For decades, Dow Credit Union has marked the end of the fiscal year by returning a board-approved percentage of annual earnings to members through rebates and rewards. Though never guaranteed, the board has approved a giveback every year since 1980, awarding $14 million to members in 2022 alone.4 

 The Great Lakes Bay Region-based credit union presently serves over 80,000 members and boasts assets of over $2.1 billion. Though originally established for Dow employees, membership in the institution is now accessible to everyone through different membership options. 

 “Just like any new home, we want to share our home with you,” CEO Michael Goad said. “We invite you to come in, see our new branch, and meet our team. Let us show you what Dow Credit Union can do for you and your family.”

5420 Gratiot Rd. with updated branding.

Members wait in a queue at the branch’s teller line.

The Maria’s Tacos food truck serves members in the parking lot as part of the Grand Opening Week festivities.

(left to right) Relationship Specialist Christopher Mason chats with Investment Advisor Daniel Strong before opening.

Members receive complimentary gifts during the Grand Opening.

(left to right) Communications Specialist Brandon Kathman and Program Coordinator Walt Hall distribute gifts.

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. Located online and in Michigan’s Great Lakes Bay Region, the credit union has more than $2.1 billion in assets and 81,000 members across all 50 states. Dow Credit Union members enjoy lower rates on loans, higher rates on deposits and convenient anywhere banking powered by leading-edge technology to ensure privacy and security that have been recognized multiple times by America’s Credit Unions for top performance in saving members money. For more information, visit  

1 NerdWallet, 9/18/2023,

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. 

3 Business Insider, 9/29/2023,; Investopedia, Investopedia, 8/10/2023,; The Wall Street Journal, 6/8/2023, 

4 While the Member Saver Reward occurs with great regularity, this credit union benefit is not guaranteed. The Member Saver Reward benefit is determined by the Dow Credit Union Board of Directors and is paid out on January 1st to the Prime Savings Account as a lump sum deposit based on earnings from eligible deposit products.


Aaron Robert
Sabo PR

Brandon Kathman
Communications Specialist


More News