Last Updated: 04/18/2025
Lake of Michigan Credit Union Money Market Account
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Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
0.25% - 0.50%(Verified 06/21/2024)
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Minimum Balance to Earn APY
$2,500
Minimum Opening Deposit
N/A
Lake of Michigan Credit Union Money Market Account Review
Lake of Michigan Credit Union Money Market Account is offered by Lake Michigan Credit Union, a credit union founded in 1933 and based in Grand Rapids, MI. LMCU money market are available in 1 state.
Key Takeaways
- Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 0.50%, which is much higher than the national average for a money market account. However, you must keep a minimum balance of $2500.
- No monthly maintenance fees. This account does not charge any monthly account fees.
Pros & Cons of Lake of Michigan Credit Union Money Market Account
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Lake of Michigan Credit Union Money Market Account FAQ
Are money market accounts from Lake Michigan Credit Union savings accounts federally insured?
Yes, your money market 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 are the dividends for LMCU money market rates?
LMCU money market offers an APY starting at 0.25% and ranging up to 0.50% (APY stands for annual percentage yield, rates may change). However, to earn interest you must keep a minimum balance of $2500.
| Rates | Amount |
| APY (Annualized Percentage Yield) | 0.25% - 0.50% |
What are the fees for Lake of Michigan Credit Union Money Market Account?
Lake of Michigan Credit Union Money Market Account does not charge a monthly maintenance fee.
| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Monthly Service Fee | $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NSF Fee | $30 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What is the minimum balance for LMCU money market?
No minimum initial deposit. Lake Michigan Credit Union does not require a minimum initial deposit to open an account.
Interest rate minimum balance of $2,500. You must keep the account balance above $2,500 to earn interest.
What features and perks does LMCU money market offer?
This account includes the following features:
- Check Writing - LMCU money market includes check writing privileges. This is convenient method to pay bills and transfer money from your account.
- Fraud monitoring - Lake Michigan Credit Union monitors transactions for potentially fraudulent activity.
What is the customer service phone number?
The customer service number for this account is (800) 242-9790.
What is the support contact email?
The support contact email for this business credit card is communityrelations@lmcu.org.
How to open an account with Lake Michigan Credit Union
- Visit the Lake Michigan Credit Union website.
- Fill in the application form. You will typically need to provide general financial information, such as your name, Social Security Number and address.
- Check the information is accurate and submit your application.
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Hours of Operation
Sunday
Closed
Monday
9:00AM - 5:30PM
Tuesday
9:00AM - 5:30PM
Wednesday
9:00AM - 5:30PM
Thursday
9:00AM - 5:30PM
Friday
9:00AM - 6:00PM
Saturday
9:00AM - 1:00PM