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Recommended For

Everyone

If you mostly bank online

If you maintain a high balance

Dividend Rate

.15% – .25%

.15% – .80%

Up to .35%

ATM Card

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Debit Card

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Access to over 30,000 surcharge-free ATMs (over 1,600 in Michigan)

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Online Banking

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Pay Bills Online
(requires also having a checking account)

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Bank With Mobile App

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Bank Over the Phone

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Minimum Aggregate Balance1

$10 initial deposit, $100 balance after 3 months

$400 in direct deposits per month

$10 initial deposit, $100 balance after 3 months

Monthly Fee

Free

Free

Free

Age Requirements

18+ or 13-17 with parent

18+ or 13-17 with parent

18+

Why It’s Cool

Provides overdraft protection to your checking account

High dividend rate for using online services2

High dividend rate with no withdrawal penalties or limits like most banks

1Minimum account aggregate balance of $100 required to avoid additional fee of $3/month.
21) Receive your monthly statements electronically;
– Maintain a Michigan First Premier Checking Account;
– Perform no more than two “in-person” and/or “mail-in” transactions a month;
– Maintain a minimum of $400 deposited through Direct Deposit in any Michigan First account;
– Use your Michigan First Debit Card 10 or more times a month for signature based purchases. Debit transactions have to post within the month authorized in order to qualify for the SavingsPlus rate. All rates and APYs are subject to change at any time.