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How to Make Passive Income With a Checking Account

What if I told you that you could earn 3% on your money by doing absolutely nothing with basically no risk? Would you do it? I sure hope so! There’s absolutely no reason not to! Today, I’m going to talk about the incredibly simple steps to make a passive income with a checking account.

passive income with a checking accountHow to Make a Passive Income with a Checking Account

It’s no gimmick. Thousands of people earn hundreds of dollars every single year with this simple trick. And the best part is, earning a passive income with a checking account is available to every living body on this planet.

1) Find a Credit Union with Great Rates

Credit Unions offer some fantastic rates on checking accounts. I mean check out the table I created below! If you opened a checking account with Finex Credit Union and had $25,000 in the bank, you could earn over $500 in one year for basically doing nothing! That’s pretty sweet, right?

NameOffered Nationwide?APY# of Debit Transactions Required per MonthBalance CapAnnual Earnings
Finex CUNo2.018%12$25,000$504.50
Provident Credit UnionNo2.01%1$25,000$502.50
Lake Michigan Credit UnionYes3.0%10$15,000$450
Connexus Credit UnionYes1.75%15$25,000$437.50
Advantage Plus Credit UnionYes2.30%12$15,000$345
Great Lakes Credit UnionYes3.0%10$10,000$300
Pen Fed Credit UnionYes0.50%1$50,000$250
CapEd Federal Credit UnionYes2.5%12$10,000$250
First Tech FCUYes1.58%12$10,000$158
MidWest America FCUNo1.51%10$10,000$151

To earn these rates, you typically just need to do a few things:

  • Set up a direct deposit into the account
  • Use your debit card the minimum number of times (they typically require 10 or more – it’s in the table if you’re curious about a certain bank), and
  • Check your account online a minimum number of times (typically 4 or more)

And that’s it!

Related: What Happens if the Stock Market Crashes? Is Your Money Safe??

2) Calculate Which Option is Best For You

The next question is, which credit union is right for you?

a) Is it offered in your area? This should narrow down the list to 7 or 8.

b) How much do you have in the bank? If you’ve got $25,000+, then you should probably go with Finex or Provident to maximize your returns. If you have less, then you’ll want to consider the percentages and the maximums. Don’t be fooled by high percentages and low maximum payouts (ie. BECU…that high-yield checking account is a joke. Sure, the percent is 4%, but they only pay that on $500, which means $20 a year! That’s crap and shouldn’t even be considered).

It’s Time to Make Some Easy Passive Income

It’s your turn, and you’re running out of excuses not to sign up.

First of all, you can no longer say that you had no idea that a deal like this existed (it never fails that I get a comment like this when I mention my 3% checking account in a random post). Now you know, and if you do nothing it’s just like losing hundreds of dollars a year, because you blatently ignored the opportunity.

Second, I made the above table clickable and linked everything directly to the checking account sign-up pages. So not only can you ignore the fact that these high-yield checking accounts exist, but if you don’t sign up it’s 100% your fault. I couldn’t possibly make this any simpler.

So which option will you choose? Are you ready to make a passive income with a checking account?

Money Passive Income


My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.


  1. I had no IDEA!!! Right… We switched to a CU years ago. At the time it was offering interest like those shown above. It has fallen quite a bit over the years but at the same time, ours offers discounts if you: have a mortgage with them, use the card more than 10x, direct deposit, savings acct with XX amt, and another dozen or so items. Ours winds up making us about 15 bucks a month just in “incentives”. The interest isn’t that much but better than any of the banks around here. (Yea Im an OLDER fart so Im not much into internet banking only) but have seen rates and other incentives that are impressive.

    tldr: get up and quit being lazy. do some research and you can make money…

    • Hi Whiskey! Lol – yeah, I know YOU know this stuff. It’s crazy though how often I hear from people that can’t fathom earning 3% on their checking account. In reality, they’re everywhere and can easily earn you $400+ a year by doing absolutely nothing! It’s been awesome for us, and I smile every month when I see that extra $35 deposited into our account.

  2. Thank you for this search. We just refinanced out of PMI and now can make our own escrow to pay our taxes and insurance. I was looking for somewhere to store these funds and make a little extra on them. That would also be a good strategy to share with your readers who are doing the same.

    • Great job getting out of PMI and taking care of the escrow payment yourself! I did this years ago and it was so much nicer to have complete control of the tax and insurance payments. No more bank choke-holds on my money.

      Glad you liked the table of credit union options. Find a good one and start making some money!

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