Lake Michigan Credit Union CD Review

Lake Michigan Credit Union CD is offered by Lake Michigan Credit Union, a credit union founded in 1933 and based in Grand Rapids, MI. Lake Michigan Credit Union CD is offered in 2 states across the USA.

Are cd accounts from Lake Michigan Credit Union federally insured?

Yes, your Lake Michigan Credit Union cd accounts are insured up to $250,000 per person by the National Credit Union Share Insurance Fund (NCUSIF). Individual Retirement Accounts (IRA) are insured separately up to $250,000. The National Credit Union Administration (NCUA), a federal agency, administers the insurance fund and regulates federally insured credit unions. The fund is backed by the full faith and credit of the U.S. Government.

What types of CDs does Lake Michigan Credit Union offer?

• IRA
• Traditional

What APY does Lake Michigan Credit Union offer on its CDs?

Lake Michigan Credit Union CD offers an APY starting at 0.05% and ranging up to 2.85% (APY stands for annual percentage yield, rates may change).

What is the minimum deposit to open a CD account with Lake Michigan Credit Union?

Lake Michigan Credit Union CD requires a minimum initial deposit of $500 to open an account.

What types of early withdrawal penalties does Lake Michigan Credit Union CD charge?

Financial institutions don't typically charge many fees on certificate of deposit accounts. However, some do charge a fee if you chooose to withdrawal your money before the CD term ends.

Lake Michigan Credit Union does not charge an early withdrawal fee.