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 |
| 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.
