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Lake Michigan Credit Union

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Lake Michigan Credit Union in Grand Rapids, Michigan, offers a solid 3% annual percentage yield on its Max Checking, but provides 0% if balance qualifications are not met. Bankrate’s 2016 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
Notes: Max Checking: Available nationally ($5 donation to charity required if out of credit union area). 4 online banking logins per month and e-statements required. ATM fees refunded up to $15 per month. 0% yield for balance above $15,000.
Location Grand Rapids, MI
Is it offered nationwide? Yes
APY % 3%
Default APY 0%
Number of monthly debit transactions required 10
Is bill pay or automatic withdrawal required? No
Direct deposit required? Yes
E-statements required? Yes
Balance cap $14,999
APY above cap 0%

*See notes section for more details.

Bankrate.com canvassed banks, thrifts and credit unions Feb. 16-22, 2016, and displays data on 56 high-yield checking accounts.