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  Lake of Michigan CU Checking Account
Lake of Michigan CU Checking Account
in Checking Accounts from Lake Michigan Credit Union · Insured by NCUA
Unaffiliated

Lake of Michigan CU Checking Account

Unaffiliated
in Checking Accounts from Lake Michigan Credit Union · Insured by NCUA
Net Recommendation Score +100  

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +100, equating to 5 on a 5 point rating scale.

+100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Rating not yet determined  

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Highlights
Community Rating

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Cashback Rewards N/A
APY (Annual Percentage Yield) 0.25% - 3%
(Verified 08/08/2022)
Monthly Fee $0 - $25
(Verified 08/08/2022)
Minimum Balance to Avoid Monthly Fee N/A

Lake of Michigan CU Checking Account Review

Lake of Michigan CU Checking Account is offered by Lake Michigan Credit Union savings accounts, a credit union founded in 1933 and based in Grand Rapids, MI. Lake of Michigan CU Checking Account are available in 1 state across the USA.

Key Takeaways

  • Bonus offer. Open a new account and you can get
  • Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 3%, which is much higher than the average for a checking account.
  • $0 monthly account fees available. This account charges a monthly service fee of up to $25.
  • Small minimum initial deposit. You only need $5 to open an account.
  • No ATM fees. Lake of Michigan CU Checking Account does not charge fees on ATM transactions within its network but there is a fee of up to $1 for out-of-network ATM transactions.
  • Bill pay. Pay your bills to practically anyone in the United States through Lake Michigan Credit Union.

Lake of Michigan CU Checking Account Pros & Cons

Pros Cons
  • Monthly service fee waived (see terms for requirements).
  • High variable APY.
  • Insured by NCUA.
  • Access to physical branches.
  • Free debit card
  • No signup bonus.
  • Only available in one state.
  • Higher than average wire transfer fees.
  • Monthly service charge.
  • Charges a fee on out-of-network ATM transactions.

Lake of Michigan CU Checking Account FAQ

Are checking accounts from Lake Michigan Credit Union federally insured?

Yes, your Lake Michigan Credit Union checking accounts are insured up to $250,000 per share owner for each account ownership category. 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 APY does Lake of Michigan CU Checking Account offer?

Lake of Michigan CU Checking Account offers an APY starting at 0.25% and ranging up to 3% (APY stands for annual percentage yield, rates may change).

Lake of Michigan CU Checking Account Rates and Terms
Rates Amount
APY (Annual Percentage Yield) 0.25% - 3%

What are the account minimums for Lake of Michigan CU Checking Account?

Lake of Michigan CU Checking Account requires a minimum initial deposit of $5 to open an account.

Lake of Michigan CU Checking Account Minimums
Description
Minimum Opening Deposit Starting at $5

What fees does Lake of Michigan CU Checking Account charge?

The good news is that this account does not have a monthly Service Charge.

Lake of Michigan CU Checking Account Fees
Description
Monthly Fee $0 - $25
ATM Fee: In-Network $0
ATM Fee: Out-of-Network Starting at $1
Foreign Transaction Fee (Debit Card) 1%
NSF Fee $30
Overdraft Item Fee $30
Overdraft Protection Fee (per transfer) $5
Returned Deposit Fee (Domestic) $5
Returned Deposit Fee (International) $5
Stop Payment Fee $25
Wire Transfer Fee - Domestic (Incoming) $5
Wire Transfer Fee - Domestic (Outgoing) $25
Wire Transfer Fee - International (Incoming) $10
Wire Transfer Fee - International (Outgoing) $50
Paper Statement Fee $5
Online Bill Pay Fee $0
Check Copy $2
Debit Card Replacement Fee $5
Early Account Closure $5

Does Lake of Michigan CU Checking Account charge overdraft fees?

Yes, Lake of Michigan CU Checking Account charges a $30 fee for every overdraft. You can get overdraft protection at a cost of $5 per transaction.

What features and perks does Lake of Michigan CU Checking Account offer?

This account includes the following features:

  • Check images with statement - Reconciling your accounts and complying with document retention standards is easier when you have access to a copy of your checks.
  • Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
  • Mobile Banking Services - Lake of Michigan CU Checking Account allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.
  • Nationwide ATM network - Conveniently transact at a nearby ATM.

What is the customer support email for Lake of Michigan CU Checking Account?

The customer support email for Lake of Michigan CU Checking Account is communityrelations@lmcu.org.

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Message From Lake of Michigan CU Checking Account

With our checking accounts, LESS is MORE. A lot of banks seem to have a fee for everything. Fortunately, we’re not a bank. We want to help you pay less, so we provide our members with a free debit/ATM card, free online banking and mobile banking, direct deposit with free automatic transfers, and unlimited check writing. Less interest, less in fees — and a lot less hassle.

Not only do we want to help you pay less for checking services, we want to help you earn more. Which is why Money magazine called our 3% Max Checking account, “The Best Checking Account in America.” So whether you’re opening your first account to help make the most of your hard-earned dollars or looking for an account that grows with your investments, we have the perfect account for you.

Availability

  Available in 1 state
Michigan
Availabile in all of Michigan

Feature Breakdown

Minimum Opening Deposit Starting at $5
Monthly Fee $0 - $25
(Verified 08/08/2022)
ATM Fee: In-Network $0
ATM Fee: Out-of-Network Starting at $1
Foreign Transaction Fee (Debit Card) 1%
NSF Fee $30
Overdraft Item Fee $30
Overdraft Protection Fee (per transfer) $5
Returned Deposit Fee (Domestic) $5
Returned Deposit Fee (International) $5
Stop Payment Fee $25
Wire Transfer Fee - Domestic (Incoming) $5
Wire Transfer Fee - Domestic (Outgoing) $25
Wire Transfer Fee - International (Incoming) $10
Wire Transfer Fee - International (Outgoing) $50
Paper Statement Fee $5
Online Bill Pay Fee $0
Check Copy $2
Debit Card Replacement Fee $5
Early Account Closure $5
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Verification Documents Required
  • Business Formation Documents
Account Features
  • No ATM Fees
  • Free Bill Pay
  • Mobile Check Deposit
  • No Monthly Maintenance Fee
  • Interest Bearing Account
  • Nationwide ATM Network
  • Check Images with Statement
  • Mobile Banking
  • IRAs
  • Debit Card
  • Bauer Financial A+/A Rating
  • Insured by NCUA
  • Branch Access
  • Check Writing
Signup Bonus Starting at $0
APY (Annual Percentage Yield) 0.25% - 3%
(Verified 08/08/2022)

Lake of Michigan CU Checking Account Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +100, equating to 5 on a 5 point rating scale.

+100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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