Michigan Interest Checking AccountLake Michigan Federal Credit Union is offering a fairly nice high yield checking account. They are located in Michigan but have opened their doors to customers nationwide, so if you live outside of Michigan you can open this high yield checking account. The account is called “Max Checking Account” and provides an interest rate of 4.0% APY on deposits up to $15,000.

Details of the account:

  • Free! No fees or minimum account balance requirements
  • 4% APY on balances up to $15,000.
  • A max of $15/month in surcharge ATM withdrawal fee refunds.
  • Free MasterCard debit card.
  • Unlimited check writing
  • Free online banking
  • Free phone banking
  • Direct Deposit with Free automatic transfers
  • Free online bill pay with Direct Deposit (usual cost of $5.95/month)
  • 24-hour access to your funds

There are four monthly usage requirements with this account:

  • Direct deposit into your LMCU account
  • Minimum of 10 debit card purchases
  • Minimum of 4 logins to home banking
  • Sign up to receive eStatements/eNotices

You can learn more about the high yield checking accounts (sometimes referred to rewards checking accounts), visit our interest checking account page to learn more about these rates.

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