Midland, MI (June 3, 2025) |
Dow Credit Union has launched its newest financial offering—Preferred Checking, a high-yield rewards account designed to help members earn more from their everyday banking. With the potential to earn over $1,000 annually, Preferred Checking reflects Dow Credit Union’s ongoing commitment to delivering exceptional value to its member-owners.
This launch follows a series of bold, member-first milestones, including expanding membership eligibility to all Michigan residents, the elimination of non-sufficient fund (NSF) fees, and being recognized as one of America’s Best Regional Banks and Credit Unions for 2025 by Newsweek and Plant-A-Insights.
Preferred Checking rewards members for simple, everyday banking activities. Every new account automatically earns 5.12% APY during the first month of enrollment, with ongoing opportunities to earn after that by meeting a few easy requirements. Members who qualify each month will enjoy:
- 5.12% APY Preferred Rate on balances up to $20,000
- Monthly interest deposited directly into their checking account
- Access to the credit union’s lowest loan rates on automotive and recreational vehicle loans
To qualify, members need to use their debit card a set number of times a month, be enrolled to receive electronic statements, access their online or mobile banking account once a month, and have funds direct deposited into their account.
“As a member-owned credit union, we are always looking for ways to return more value to our members,” said Michael Goad, President and CEO. “Preferred Checking builds on our tradition of offering everyday banking features that help members make the most of their money—without compromising convenience or care.”
The launch of Preferred Checking reflects Dow Credit Union’s belief that financial success is for everyone. It’s part of a broader mission to empower members and enhance financial well-being. With over 82,000 members across all 50 states and in over 40 countries, the credit union continues to lead with transparency, competitive rates, and meaningful rewards as it approaches $2.5 billion in assets.
To learn more or to open a Preferred Checking account, visit dowcreditunion.org/checking.
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.
Newsweek, December 2024, America's Best Regional Banks and Credit Unions 2025