How Would You Like a 3% APY Checking Account?




LMCU 3% APY Offer


UPDATE (HT Doctor of Credit)

  1. You can fund your deposit (up $5,000) with a credit card. As one of the commenters noted, if you use Barclays Arrival (or I would add Citi Double Cash), consider it a $100 sign up bonus.
  2. Commenters note that you indeed can use your debit card to pay for bills online which can help to automate the monthly requirements.
  3. Recurring bank transfers apparently do count as a Direct Deposit.


Let’s try something different. No credit cards, no prepaid debit cards, no Walmart, no Target. No Manufactured Spending whatsoever.

Just the basics. Loan money to the bank and get paid for it. Handsomely. 3% APY is a very atypical interest rate to say the least. There are some other banks and credit unions that offer a 3% APY Checking (although mostly for CD), but they are much more restricted than this offer.

The beauty is that everyone can get in wherever you live. There is no minimum deposit. The ATM fees are covered (well, recovered, up to a certain point). And the offer seems to be not a time-limited variety — although, I’m sure there is a language somewhere in their policy that they can change it any time. And they most probably will.

But for now, you can get 3% APY on up to $15,000. Here is how.

You’ll earn 3% on balances up to $15,000. We’ll also refund up to $15/month in surcharge fees if you use a non-LMCU ATM. And guess what? Max Checking was named the best checking account in the nation by Kiplinger’s magazine in 2013.

If you already expect that there are a few hoops through which you’ll have to jump in order to get in on this offer, then you won’t be disappointed upset. Because in order to get your 3% APY, you will have to sign up to receive eStatements and eNotices and do the following things on a monthly basis.

  1. Use direct deposit
  2. Make at least 10 debit card purchases
  3. Log on at least 4 times to your home banking account

LMCU 3% APY MAX Checking

If you don’t live in Michigan, don’t worry. You can join by donating $5 to Amyotrophic Lateral Sclerosis Association of Michigan. Sounds like a good cause, too.

Lake Michigan Credit Union  3% APY Offer

5% Donation Qualifies You for LMCU 3% APY Offer

According to the Doctor of Credit Database, ACH qualifies for a Direct Deposit with LMCU. If so, the only hard requirement in this plan is to use 10 debit card purchases. I presume they would have to be purchases and not bill payments, and I have no idea if they need to be swiped or if we could use them for online shopping.

What say you? Comments please.


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This looks like a tremendous account (up to $15k at least). If online debit transactions work, this would be a huge plus.

Just to confirm, for ACH transfers, I just need to set up a recurring monthly transfer from my bank into this one for any amount?

[…] How Would You Like a 3% APY Checking Account?  […]

[…] How Would You Like a 3% APY Checking Account? & Another High Yielding Checking Account and a Clarification About My LMCU Post by Lazy Travelers. The more bloggers talking about this sort of stuff, the better. I’ll be doing more posts on high yield checking accounts and prepaid accounts in the future. […]

[…] How Would You Like a 3% APY Checking Account? […]


Any information to suggest Citi won’t charge CA fees on the Double Cash? Using a Citi card seems risky.


If online debit counts for min debit purchases, then 10 50 cent amazon gc would quickly satisfy at minimal cost.

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