[MD, In Branch] LM Federal Credit Union $100 Checking Bonus

Update 10/17/20: Deal is back. No end date listed. Hat tip to reader hype8912

Bonus now good through August 31st, 2018. Hat tip to reader Matt

Offer at a glance

• Maximum bonus amount: $100
• Availability: MD, in branch only [Branch locator]. Only one branch and it’s in Baltimore. Must also be:
  • Employees of various Lockheed Martin groups in the Eastern United States
  • Employees of Middle River Aircraft Systems in Baltimore
  • Employees, active duty and reserves of Warfield Air National Guard Air Base
  • Retirees of the groups listed above
  • Family members of existing LM Federal members
• Direct deposit required: Yes, $500+
• Additional requirements: Five debit card transactions
• Hard/soft pull: Unknown
• ChexSystems: Unknown
• Credit card funding: Unknown
• Monthly fees: Unknown
• Early account termination fee: None
• Household limit: None listed
• Expiration date: March 31st, 2018 April 30th, 2018 June 30th, 2018 December 31st, 2018 March 31st, 2019 June 30th, 2019

The Offer

Direct link to offer

• LM Federal Credit Union is offering a $100 bonus when you open a new checking account when you complete the following requirements:
  • Receive a qualifying direct deposit of $500 per month
  • Make five visa check card purchases within 45 days of account opening

The Fine Print

• Direct Deposit is defined as an ACH deposit from the member’s employer of at least $500 per month (or equivalent).
• Incentive will be deposited once the first direct deposit is posted and confirmed.
• A minimum of five (5) VISA check card purchases (credit or debt) must be posted within 45-days of the account opening.
• Checking and Visa Check Cards are subject to approval.
• Cash reward will be subtracted from the account if it is closed within 90 days of opening.
• Promotion Expires 3/31/2018.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

There are no monthly fees to worry about. I also couldn’t find any mention of any early account termination fee in the fee schedule.

Our Verdict

If it’s a soft pull to open and you live near a branch this might be worth it, but seems like a lot of requirements for a relatively small bonus. Definitely check out and complete these easier bonuses first. As always please share any datapoints you have in the comments below.

Big thanks to reader, Curmudgeon who let us know. Learn how to find bonuses and contribute to the site here.

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• What Banks & Credit Unions Do/Don’t Pull ChexSystems?
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• Common Bank Bonus Misconceptions + Why You Should Give Them A Go
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Post history:

• Bonus now good through August 31st, 2018. Hat tip to reader Matt