2014 high-yield checking: Lake Michigan Credit Union
Lake Michigan Credit Union, in Grand Rapids, Michigan, offers a solid 3 percent annual percentage yield on its Max Checking, but provides zero percent if balance qualifications are not met. Bankrate's 2014 High-Yield Checking Survey breaks down the returns you can get with each account and the hoops you'll have to jump through to get them.
Lake Michigan Credit Union
Location: Grand Rapids, MI
|Nationally offered? Y||APY: 3%||APY if conditions not met: 0%||Monthly debit transactions required: 10||Bill pay or automatic withdrawal required? N||Direct deposit required? Y||Balance cap: $15,000|
- Max Checking: Available nationally ($5 donation to charity required if out of credit union area).
- Four online banking log ins per month and e-statements required.
- ATM fees refunded up to $15 per month.
- Zero percent yield for balance above $15,000.
*See notes section for more details.
Bankrate.com canvassed banks, thrifts and credit unions March 10-13 and reports data on 56 high-yield checking accounts offered by 54 institutions.