Checking accounts aren’t traditionally the accounts that provide the highest interest rates on your money, but the checking account from Lake Michigan Credit Union is breaking out of the mold. This high yield checking account is currently offering 4.00% APY on money deposited in the account.
Chapter 1. Background Information
When it comes to investing your money, you like to know who you are actually investing your money with. Lake Michigan Credit Union is the largest credit union in West Michigan. They currently have over 170,000 members and their assets are valued around $2.3 billion. They understand that their members are their number one priority and work to keep their customers happy. Lake Michigan Credit Union offers a variety of different services to their members, some of which include auto loans, mortgages, retirement planning, savings accounts and other investment options.
Chapter 2. The Checking Account
Lake Michigan Credit Union is offering 4.00% APY for their checking account. This APY is considerably higher than other bank’s checking account rates. You have a great opportunity to earn a lot of interest money with this account. This checking account doesn’t have any fees and there is no minimum balance requirement you must keep in the account. The 4.00% APY is only earned on balances of $15,000 or less. In order to receive that high interest rate on your money, you have to agree to a few stipulations. They are:
- You must have a direct deposit into an account you hold with Lake Michigan Credit Union
- You must make at least 10 purchases each month with your debit card
- You must sign up to receive eStatements and eNotices and be eligible to receive those
- You must also make 4 logins to the online home banking each month
These requirements are simple, and you would most likely keep all of them without even realizing you were. You’d know you were keeping the necessary stipulations if you see extra money in your account because you’re receiving the 4.00% APY.
Chapter 3. How to Sign Up
In order to open a checking account with Lake Michigan Credit Union you first have to become a member of the credit union. To sign up for the account, as well as become a member of the credit union, follow these easy steps. From the Max Checking account page, click on “Sign up for Max.” From there click on the “click here” under the new members section. Then select that you want to ‘Open a New Account.” From there you must click the circle next to, “I am a person who is or will become a donor to the Amyotrophic Lateral Sclerosis (ALS) Association of Michigan.” That will take you to the donation form, where you decide how much you would like to donate. You can either fax, email or mail the form to the credit union. Then select “Yes, I am eligible and ready to apply for membership.” Select continue and fill out your application. By signing up for this account, you will not only be making great a interest rate on the money in your checking account, but you will be donating to a good cause as well.
Being a member of the Lake Michigan Credit Union and having a checking account with them could allow you to make 4.00% APY on the money you have in your checking account. Take advantage of these great rates and make the most off your money now!