Update 3/28/26: Back again for $150. This time for the Greenbelt branch but it can be opened online. Hat tip to the reader snail
There is also a $200 in branch offer
Update 2/7/25: Extends to $150.
Update 1/12/23: Extends through March 31, 2023.
Offer at a glance
- Maximum bonus amount: 100 dollars
- Availability: MD, DC, VA
- Direct deposit required: Yes, $500+
- Additional requirements: See below
- Hard/soft pull: Gentle pull
- ChexSystems: Unknown, sensitive
- Credit card financing: Unknown
- Monthly fees: ANY
- Early account closure fee: Loss of bonus, six months
- Family boundary: None listed
- Expiration date: December 31, 2022
Offers
- Lafayette Federal Credit Union offers a $150 bonus. The bonus is divided as follows
- Open a new Lafayette Federal checking account with just $50, get your debit card and sign up for online banking.
- Deposit $500 or more per month to qualify for the bonus to receive an additional $100.
Fine Press
- Offer valid until December 31, 2022 and subject to change without notice.
- Cannot be combined with any other new member offer.
- Members who have received previous new member/direct deposit promotions in the last 12 months are not eligible.
- Business accounts are excluded from the offer.
- Eligibility for membership is required.
- Direct Debit/Qualified Deposit must be set up first to qualify for the remaining incentive money.
- 1Members who open a checking account and a qualified direct deposit will receive a $100 deposit into their checking account.
- If the account is closed within the first 6 months, the promotional deposit will be deducted from the account. A qualified direct deposit is a recurring direct deposit of a paycheck, pension, Social Security or other periodic income of at least $500 into a savings or checking account on a monthly basis, made by an outside organization or agency.
- 2Members who open a credit card no later than 60 days after account opening will receive a $50 deposit into their checking account.
- 3Members who open a Share Certificate no later than 60 days after account opening will receive a $50 deposit into their checking account.
- 4Members who open a Preferred or Premiere Savings Account no later than 60 days after opening the account will receive a $50 deposit into their checking account.
- 5Members who finance a mortgage loan no later than 6 months after account opening will receive a $500 closing credit toward their mortgage loan.
- All bank account bonuses are treated as income/interest and as such you must pay tax on them
Avoidance of fees
Monthly fees
There are no monthly fees to worry about
Early account termination fee
The account must be kept open for six months or the bonus will be forfeited.
Our verdict
Advertised as a $750 bonus, but most of it is from closing costs on a mortgage and opening a credit card. We talked about Lafayette FCU because of the $600 credit card bonus they offer. It’s worth doing if you’ve made bigger bonuses in the past.
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