Update 8/15/26: Deal is back as a $110 referral. Michigan/Florida language has been removed. Given what happened last time (accounts opened only to be closed) I wouldn’t recommend doing this bonus and won’t be adding it to the best bank bonus page. Hat tip to reader Bob The Bonus
Both Advocate and Friend must be over the age of 18 to qualify for the reward. Advocate must be a primary member of LMCU in good standing with a valid email address on file and refer an eligible prospect (Friend) to LMCU. Friend must open a qualified LMCU membership with checking account using Advocate’s referral link and meet the program criteria. The Friend must hold two or more recurring direct deposit(s) totaling $500.00 or more for 60 days. Following qualification, LMCU will deposit $110 into the Advocate’s primary savings account and $110 into the Friend’s primary savings account within 14 business days.
Update 7/15/26; Both Advocate and Friend must be over the age of 18 and a permanent resident of Michigan or Florida to qualify for the reward.
WARNING: It looks like LMCU is approving accounts, then restricting them. Says that accounts opened from 2nd and 6th will be closed due to some sort of “system error”. Reps then state you are free to reapply but you won’t be eligible for the $250 referral bonus due to having a closed account within the last 180 days. Removing this from the best bank account bonus page.
Update 7/2/26: Bonus has been increased to $250 from $100. Referral thread is open, please do not share your referrals in the comments below. Note that I wouldn’t use your normal e-mail (or the e-mail you use on doctor of credit) to sign up for LMCU as it’s basically revealed with your referral link, make sure it’s something secure though.
Offer at a glance
- Maximum bonus amount: $100
- Availability: $5 donation to ALS works for anybody to join. Out of state requires appointment to open account.
- Direct deposit required: Yes, two or more recurring direct deposits totaling $500 or more for 60 days
- Additional requirements: See below
- Hard/soft pull: Soft pull
- ChexSystems: Mixed reports
- Credit card funding: $500 (Previously it was $15,000)
- Monthly fees: None
- Early account termination fee: None
- Household limit: none
- Expiration date: April 4, 2025
The Offer
- Lake Michigan Credit Union is offering a $110 referral bonus when you open a new checking account and complete the following requirements:
- Your friend opens an LMCU checking account and holds two or more recurring direct deposits totaling $500 or more for 60 days.
The Fine Print
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
This account has no monthly fees
Early Account Termination Fee
Unsure if there is any EATF.
Our Verdict
You can find and share your referral links here. Requirements are relatively easy to meet but it’s a hard pull. Probably worth doing if you can refer a few people.
Hat tip to reader scott
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
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