Last Updated: 04/18/2025
Lake Michigan Credit Union Max Savings Account
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Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
0% - 0.80%(Verified 06/21/2024)
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Minimum Opening Deposit
$5
Minimum Balance to Earn APY
$100
Lake Michigan Credit Union Max Savings Account Review
Lake Michigan Credit Union Max Savings Account is offered by Lake Michigan Credit Union, a credit union founded in 1933 and based in Grand Rapids, MI. Lake Michigan Credit Union savings account are available in 2 states.
Key Takeaways
- Higher than average APY. Lake Michigan Credit Union Max Savings Account has an annual percentage yield of up to 0.80%, which is higher than the average interest rate for savings accounts. Note that you must keep a minimum balance of $100 to earn that interest rate.
- Small minimum initial deposit. You only need $5 to open an account.
- No ATM fees. Lake Michigan Credit Union Max Savings Account does not charge fees on ATM transactions .
Lake Michigan Credit Union savings account Pros & Cons
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Lake Michigan Credit Union savings account FAQ
Are savings accounts from Lake Michigan Credit Union savings accounts federally insured?
Yes, your savings 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.
Does Lake Michigan Credit Union offer a signup bonus?
Lake Michigan Credit Union savings account doesn't offer a signup bonus.
What is the minimum initial deposit for Lake Michigan Credit Union savings account?
The minimum deposit to open a Lake Michigan Credit Union savings account is $5.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Balance to Earn APY | $100 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | $5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY does Lake Michigan Credit Union Max Savings Account offer?
Lake Michigan Credit Union savings account offers a variable APY and ranging up to 0.80% (APY stands for annual percentage yield, rates may change).
What fees does Lake Michigan Credit Union savings account charge?
- Outgoing domestic bank transfers come with a $25 fee.
- Incoming domestic bank transfers come with a $10 fee.
- Outgoing international bank transfers come with a $50 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.
- Incoming international bank transfers come with a $15 fee.
- Lake Michigan Credit Union savings account charges a $5 fee for an early account closure. Contact Lake Michigan Credit Union savings account for more details on what is considered an early closure.
What features and perks does Lake Michigan Credit Union savings account offer?
This savings account includes the following features:
- Check images with monthly statement - Reconciling your accounts and complying with document retention standards is easier when you have access to a copy of your checks for each statement period.
- Fraud monitoring - Lake Michigan Credit Union savings account monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location, or you make a sudden string of costly purchases.
- Mobile Banking Services - Lake Michigan Credit Union savings 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.
Can you set up a direct deposit to Lake Michigan Credit Union savings account?
Yes, you can typically set up a direct deposit to this account. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.
What is the customer support email for Lake Michigan Credit Union savings account?
The customer support email for Lake Michigan Credit Union savings account is communityrelations@lmcu.org.
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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