Checking Accounts for Michigan

At Lake Trust Credit Union, when it comes to checking accounts, we don't believe in one-size-fits-all. We believe what you need in a checking account depends on where you are on your journey in life. Some people need an account that's free, simple, with no strings attached. Others want their money to work for them while they continue working for their money. Others would just as soon deal with all of their finances online. Whatever your needs and desires, we have a checking account that will work for you.

We have five checking accounts to meet your needs:

• SoSMART® Checking
• Basic Checking
• Free Checking
• Student Checking
• Money Market Checking

All of our checking accounts include 24/7 access through the following:

• Unlimited check writing
• Access to surcharge free ATMs through the CO-OP Network
• Free access to Debit Cards, E-Statements, Internet Banking, Phone Banking and Bill Payer.

SoSMART® Checking – Free ATMs. Anywhere.

Lake Trust SoSMART® Checking is completely online, makes your money easier than ever to manage while it works for you, and gives you access to your account from anywhere in the country.

• 2.02%APY Interest on balances up to $15,000*
• Nationwide ATM fee refunds up to $25 per monthly qualification cycle*
• Overdraft protection available
• No monthly service fee
• No minimum balance
• Three free and simple requirements per monthly qualification cycle*
  • Receive E-Statements through Internet Banking (email address required)
  • Minimum one (1) Direct Deposit or Direct Payment (ACH) posted and cleared per monthly qualification cycle* 
  • Minimum fifteen (15) Debit Card Purchases posted and cleared per monthly qualification cycle* 

SoSMART® Checking frequently asked questions
 

Basic Checking – Little commitment 

Lake Trust Basic Checking offers some rewards without requiring a huge commitment.

• 2 ATM fee refunds per month when you perform at least one Debit Card transaction
• Overdraft protection
• Requires $500 minimum balance or $3,000 combined deposit balances to avoid $5 monthly service fee 

Free Checking – Simple with no strings attached

Lake Trust Free Checking offers no frills without expensive strings attached.

• No ATM refunds
• No monthly service fee
• No minimum balance

Student Checking – For the tech-savvy student just starting off

Lake Trust Student Checking is just right for students who want to handle their finances online and are looking for the most efficient account while they're just starting off.

• Available up to age 24
• 5 foreign ATM refunds per month (no surcharges)
• No monthly service fee
• No minimum balance
• E-Statements and Internet Banking required

Money Market Checking – For the investor

Lake Trust Money Market Checking is just what you need if you're looking for an account that pays you for keeping higher balances.

• Free checks
• Tiered interest
  • $1,000 - $4,999.99
  • $5,000 - $9,999.99
  • $10,000 or more
• 2 foreign ATM refunds per month (no surcharges)
• Overdraft protection available
• Requires $1,000 minimum balance or $5,000 combined deposit balances to avoid $5 monthly service fee

Other Checking frequently asked questions
 

Managing Your Checking Account and Overdraft Protection
 

*Simple steps must be met per monthly qualification cycle to earn 2.02% Annual Percentage Yield (APY) on balances up to $15,000, 0.30%APY on balances over $15,000, and ATM fee refunds up to $25 per monthly qualification cycle. Monthly qualification cycle varies depending on when the last day of the month falls. If steps not met, 0.15% paid on all balances. Rates as of 9-01-2010 and subject to change. Available to personal accounts only. Powered by BancVue.

NOTICE OF CHANGES IN TEMPORARY NCUA INSURANCE COVERAGE FOR TRANSACTION ACCOUNTS
All funds in a “noninterest-bearing transaction account” are insured in full by the National Credit Union Administration through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to members under the NCUA’s general share insurance rules. 

The term “noninterest-bearing transaction account” includes a traditional share draft account (or demand deposit account) on which the insured credit union pays no interest or dividend. It does not include any transaction account that may earn interest or dividends, a negotiable order of withdrawal (”NOW”) account, money-market deposit account, and Interest on Lawyers Trust Account (”IOLTA”), even if share drafts may be drawn on the account. For more information about temporary NCUA insurance coverage of transaction accounts, visit www.ncua.gov.