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
They’re just full of BS. Some banker called me insisting P2 used another link instead of mine to sign up which I know 100% it isn’t true. There was just no way since I myself set everything up for P2. So I did not receive any bonus as a referrer. They’re just HORRIBLE.
DP: 7/2/26 Opened Free Checking account with a referral link (also opened savings account) 7/3 Pushed $250 from Sofi 7/6 Pushed $300 from Sofi 7/? I referred PS2 9/17 $250 (for using a referral link to sign up) credited into savings account 9/17 $250 (for referring PS2) credited into savings account I am OOS who lives in Indiana.
I got it as well! Thanks again!
mothman69 The bonus has posted in my Savings. I hope they credited you, too!
Bedu🔗 I appreciate the reply. No worries. I will pursue it a bit since I have screenshots of the terms prior to the state restriction. Sorry that your P2 was shutdown. I will find another way to help you out in the future. Thanks for your DPs and comments.
Sorry! I swapped between P1 and P2 for referral links. Unfortunately P2 got shut down during the purge, so I think you probably used my P2’s link. Sorry again for making you miss out on the bonus.
Bedu🔗 , I had used your referral link. If you haven’t already reached the $550 total in referral bonuses, you may have been credited yesterday. Oddly, I haven’t yet received my SUB as the one referred.
Update: I received two $250 credits for referring two people residing in FL.
I just looked at their referral terms. It says that the referrer will be paid no later than 14 business days after the Friend meets the terms. Part of the terms is keeping everything going for 60 days, so I think you can expect a payout about three weeks after the Friend’s account has been open 60 days. You should have received your own SUB by now.
Did anyone else receive email with title ‘Let’s check on your LMCU referrals’, which shows how many referral rewards you earned? I received such email showing 1 reward earning, while I have not receive any referral bonus. I only received $250 referral SUB as a referee,
Successful Bonus Data Point (OOS): 7/6/26: Account opened using mothman69 ’s link. 7/17/26: $251 real DD 7/31/26: $251 real DD 9/6/26: $250 bonus posted I applied on 7/5/26 using WiFi and went pending then declined for identity verification. Tried again using mobile data on 7/6/26 and was instantly approved. Once open, my account was never restricted.
My referral bonus posted today (surprisingly on a Sunday)
Mine ($250 bonus) posted today on 9/3.
See #2357382 2 DDs should be fine
Opened 7/28 and I received a DD on 8/10 and 8/17. Given the terms say “hold two or more recurring direct deposit(s) totaling $500.00 or more for 60 days.” do you think those 2 DD’s suffice or should I keep it going, and send one more DD in the month of September?
Online in florida
No hard pull approved last month
You’re welcome and thank you too!
Nothing yet. The terms make it sound like we’ll have to wait the full 60 days and then expect the bonus within 14 business days. Might be closer to the end of September when they pay out.
mothman69 I had used your referral to open when the bonus was $250. It’s been quite a while since my real DDs hit my account but no bonus. I’m curious if you have received any bonuses so far. My account was never restricted or anything, but I am OOS.
They used to do that but it’s soft pull Experian and no Chex pull last month unless they changed it this month.
When you apply for a membership account, there would be a hard credit pull on your Experian credit report. While applications do vary, we may also pull your ChexSystems report as well.
I had an account with LMCU for like 8 years, and for about 3 years it was actually my primary hub account (2018 – 2021). Then suddenly at some point in 2023 or 2024 they closed it for unknown reason (maybe inactivity). When they closed it, I called and asked why and they said I’m welcome to open a new one anytime. Now when I try applying with a referral link, my applications keep getting denied. Anyone else? What happened to this CU? They used to be pretty good.
After getting my account restricted and everything eventually returned/refunded, I still get emails as if I have an account, but I don’t, and can’t unsubscribe because they are the mandatory account emails. Their system is still messed from the DoC effect.
Yeah seems like banks/CUs with referrals lately have been getting shut down. Hopefully with the lower referral amount, they’ll be more lenient
These goons shutdown P1 within a week after opening (online account restricted, called and was rudely accused of fraud, cc deposit returned after 2 wks.) and P2 a month afterwards (payroll DD returned, called to inquire and was told that account was restricted, $20 opening deposit to be refunded, and account closed immediately due to “fraud” concerns. P2 still hasn’t received their $20 refund, chumps. They also sent out both useless and fugly debit cards. Remind me of Five Star CU and a few others that had bank bonus remorse, hit the panic button, and cut us loose after the fact.
William Charles I would think it’s better to make a new referral link page, since I believe many of the links that are already posted there are by those whose accounts got closed early July and if users use those links, they are unlikely to receive the $110 SUB bonus, while some links are from those whose accounts are still open and valid (including me). I don’t think there is a way to distinguish between valid and invalid links.
Added to do list
I did it and didn’t get Chex pulled at all. Doesn’t show any pull in my Chex report. P2 was approved with Chex frozen
Youre sure? Comments from the 6th saying they requested it to be unfroze.