Grab a Quick $100 with Lake Michigan Credit Union's Referral Bonus

If you're looking for a simple way to pocket some extra cash, Lake Michigan Credit Union (LMCU) is running a referral promotion that's hard to ignore. Through April 4, 2025, both you and a friend can earn $100 each—just by getting them to open a checking account and set up direct deposits. It's a win-win, and the best part? You don't need to live in Michigan or Florida to join. Let's break down how it works and what you need to watch out for.

Who Can Join? It's Easier Than You Think

You might assume a credit union called 'Lake Michigan' is only for locals, but that's not the case here. Membership is open to anyone who makes a $5 donation to the ALS Foundation. That's it. No geographic restrictions for that route. Alternatively, if you live, work, or worship in Michigan's Lower Peninsula or anywhere in Florida, you're also eligible. And if you have a family member who's already a member, you can join no matter where you live. So, pretty much anyone in the U.S. can get in on this deal.

How the Referral Bonus Works

The process is straightforward. You share your unique referral link with a friend or family member—via email, text, or social media. They click the link, open an LMCU checking account, and then set up at least two recurring direct deposits that total $500 or more. After they've maintained those deposits for 60 days, both of you get $100 deposited into your primary savings accounts. The bonus typically shows up within 14 business days after qualification.

• Both you and your friend must be at least 18 years old.
• You need to be a primary member in good standing with a valid email on file.
• Your friend must use your referral link to open their account.
• The direct deposits must be recurring—payroll, pension, or government benefits usually work. One-time transfers likely won't count.

Avoiding Monthly Fees

One of the best things about LMCU is that most of their checking accounts have no monthly maintenance fees. The Max Checking, Free Checking, and Advantage 50 Checking are all fee-free. The only exception is the Investor Checking, which charges $10 per month unless you keep a balance of $2,500 or more. So if you're just signing up for the bonus, stick with one of the free options.

What to Watch Out For

A few things aren't crystal clear with this offer. For starters, it's not known whether LMCU does a hard or soft credit pull when you open an account. Some credit unions do a hard pull, which can temporarily ding your credit score. Also, there's no info on whether you can fund the account with a credit card—if that's important to you, you might want to ask before applying. The early account termination fee isn't listed either, so if you plan to close the account soon after getting the bonus, check the fine print or ask customer service. Lastly, there's no stated household limit, but it's always wise to confirm if multiple referrals from the same household are allowed.

Bottom Line

• Earn $100 for you and $100 for your friend with a simple referral.
• Membership is easy—just a $5 donation to the ALS Foundation.
• No monthly fees on most checking accounts.
• Offer ends April 4, 2025, so act quickly.

Common Questions