Available in the greater District of Columbia area, Lafayette Federal Credit Union is offering existing members up to an $85 bonus for setting up direct deposit to celebrate 85 years of service. Not a member? They have a $100 bonus for new members.
How To Earn The Bonus
The Lafayette Federal Credit Union Personal Checking [Existing Members] promotion requires you to set up direct deposits in order to earn the $85 bonus.
Full requirements to receive this bonus are:
- Be a member of Lafayette Federal Credit Union.
- Open a new checking account or have an existing checking account.
- Within a calendar month, Initiate a direct deposit.
- By the final day of the following calendar month, complete a recurring direct deposit.
- Bonus will be deposited by the second Monday of the calendar month following the initial qualified direct deposit.
The fine print
- Offer valid for current members only.
- If checking account is closed within six months of receiving the promotional deposit, the deposit will be deducted from account.
- Qualified direct deposit is a recurring direct deposit of a paycheck, pension, Social Security or other periodic payment of at least $500 into a checking account on a month-to-month basis made by an outside organization or agency.
How does this checking offer from Lafayette Federal Credit Union compare?
To help you determine how this bonus stacks against the rest, here are some of the most popular offers available right now:
Citi
Citi Priority Account
- Bonus
- up to $1500
- Account Type
- Personal Checking
- Expires In
- 16 days
- Requires
- Min Balance
Fifth Third Bank
Personal Checking
- Bonus
- $375
- Account Type
- Personal Checking
- Expires In
- 91 days
- Requires
- Direct Deposit
Chase
Chase Total Checking®
- Bonus
- $200
- Account Type
- Personal Checking
- Expires In
- 19 days
- Requires
- Direct Deposit
Why Lafayette Federal Credit Union?
Personal Checking
Fees
Personal Checking does not charge a monthly fee.
How to Join Lafayette Federal Credit Union
Credit unions differ from banks in that they restrict membership based on a shared common bond, or the credit union’s “field of membership”.
That means in order to qualify for this bonus (or any offer from a credit union), you'll first need to meet Lafayette Federal Credit Union's membership requirements:
- live in Maryland, Washington, D.C., or Virginia and are a member of the American Consumer Council (ACC)
- are employed by an agency or company within Lafayette Federal's approved field of membership
- are employed by DXC or CSRA
- live or work in the Potomac, MD area
- live, work, worship or attend school in Washington, D.C.
- are an immediate family member of a current Lafayette Federal member
- are a member of the Home Ownership Financial Literacy Council
Keep in mind that nearly all credit unions have a "once a member, always a member" policy, so once you're in, the above restrictions no longer apply.