Trust Account
A special account that lets you hold assets for beneficiaries in an interest-bearing checking or savings account.
Establish a trust account for your beneficiaries.
Designed to hold assets for beneficiaries, a trust account lets you transfer, control, and distribute assets and income to others without going through probate, which expedites asset distribution. Parents, for example, might set up a trust account for their children’s education. In addition to cash, a trust account can contain stocks, bonds, and even real estate holdings and may offer distinct tax benefits.
- Open as Free Checking Account or Share Savings
- $5 minimum balance
- May reduce estate and gift taxes
- Can be used to make deposits or withdrawals
Select your location to view rates.
Checking Rates
Showing rates for
Effective Date 04/10/2026
| Account | Dividend Rate | APY* |
|---|---|---|
| Account Business Essential Checking | Dividend Rate 0.050% | APY* 0.05% |
| Account FREE Checking** Tier 1 | Dividend Rate 0.050% | APY* 0.05% |
| Account FREE Checking** Tier 2 | Dividend Rate 2.716% | APY* 2.75% |
| Account FREE Checking** Tier 3 | Dividend Rate 4.889% | APY* 5.00% |
* APY = Annual Percentage Yield. All dividend rates and APY may change at any time. The APYs shown above assume that all principal and dividends remain on deposit for the entire term. Fees could reduce earnings on the above accounts.
**
Tier 1: Accounts with 0-19 debit card transactions per month balances of $1.00 and over, will earn ::checking-tier-1:: APY.
Tier 2: Accounts with 20-39 debit card transactions per month and enrolled in e-statements will earn ::checking-tier-2:: APY on balances between $0-$10,000. Balances $10,001 and above will earn .05% APY.
Tier 3: Accounts with 40 or more transactions per month and e-statements will earn ::checking-tier-3:: APY on balances between $0-$10,000. Balances $10,001 and above will earn .05% APY.
The dividend rate may be calculated using two different rates. The dividend rate will appear as a blended APY on your monthly statement.
Do more than bank. Bank for a greater good. Join our membership and be part of the Great Lakes Credit Union story.
Invite a Friend
Know someone looking for a not-for-profit financial institution that lets them bank for a greater good? Send them our way!
Testimonials
“I’ve gotten great customer service from Great Lakes Credit Union. When I go into the branch there is always someone there with a smile ready to help.”
Maximize your membership.
-
Get member-exclusive discounts on tax services from TurboTax® and H&R Block,® and estate plans from Trust & Will.
Disclosure:
1APY = Annual Percentage Yield. All dividend rates and APY may change at any time.
2Tier 1: Accounts with 0-19 debit card transactions per month balances of $1.00 and over, will earn .05% APY.
3Tier 2: Accounts with 20-39 debit card transactions per month and enrolled in e-statements will earn 2.75% APY on balances between $0-$10,000. Balances $10,001 and above will earn .05% APY.
4Tier 3: Accounts with 40 or more transactions per month and e-statements will earn 5.00% APY on balances between $0-$10,000. Balances $10,001 and above will earn .05% APY.
Transactions must settle during the calendar month to qualify.
The dividend rate may be calculated using two different rates. The dividend rate will appear as a blended APY on your monthly statement.
Browse the latest headlines for news and advice.
Expanding Financial Access Through Partnerships
Read Article Expanding Financial Access Through Partnerships