Cash / Bill Pay account

[Kipp]

To anyone looking for an effective account for paying bills I recommend checking out the credit union in my area (you can sign up online).  3% interest on balances up to $15,000 for meeting a few simple monthly requirements (direct deposit, e-statements, check your account 4 times, and 10 purchases on debit card).

www.lmcu.org for anyone who is interested in a great cash account for paying bills.

Also, if anyone knows of a better place to have billing paying / emergency cash, please share!

[aj_yooper]

That is amazing!  Makes me wanna get some.

[Kipp]

That is amazing!  Makes me wanna get some.

Yea, before the decline in rates they used to be 5% (I signed up when 4%), but you still can't beat the return for this type of an account (at least not that I am aware of).

[aj_yooper]

Conditions of membership are:

"We offer membership to those who meet at least one of the following criteria:
Persons who reside, work, attend school or worship within any county in the State of Michigan’s lower peninsula
Persons who are donors to the Amyotrophic Lateral Sclerosis (ALS) Association, West Michigan Chapter
Immediate family members of current LMCU members
Click here to apply for membership online with eBranch!"

[Kipp]

Ah ok, makes sense being a credit union that everyone can't signup everywhere.  It's a shame though.

[exranger06]

My credit union offers a 1.25% APY checking account. It used to be 3% up until about a year ago. Still pretty good though. Conditions are you must use debit card at least 12 times a month, sign in to online banking at least once a month, sign up for paperless (electronic) statements, and have at least one direct deposit into the account per month. www.connexcu.org

[Another Reader]

Looks like if you want to join, you can make a charitable donation to that ALS chapter.  That's the same approach Pentagon FCU uses - donate $20 to the military families charity.

Yours is one of the best ones out there - here in the Bay Area, Provident offers 1.76 percent on up to $25,000 if you use the debit card 10 times a month and do at least one direct deposit or ACH transfer a month.

Here's the depositaccounts.com info:

http://www.depositaccounts.com/banks/lake-michigan-credit-union.html

I'll bet the West Michigan ALS chapter is going to have a spike in donations as a result of Kipp's post.....