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.
|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|
|Number of monthly debit transactions required||10|
|Is bill pay or automatic withdrawal required?||No|
|Direct deposit required?||Yes|
|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.