Deal has ended, view more bank account bonuses by clicking here.
Update 1/6/22: They also offer a 2% APY checking account on balances up to $25,000. Requires a monthly direct deposit of $500+.
Offer at a glance
- Maximum bonus amount: $100
- Availability: MD, D.C., VA
- Direct deposit required: Yes, no minimum specified
- Additional requirements: Use promo code
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: $50, 6 months
- Household limit: None listed
- Expiration date:
March 31st, 2019None listed?
Contents
The Offer
- Lafayette Federal Credit Union is offering a bonus of $100 when you sign up for a new checking account and complete the following requirements:
- Use promo code DD2022
- Open account and initiate a qualified direct deposit by March 30th, 2019 and receive $50 bonus
- Receive an additional $50 bonus after first direct deposit which is deposited within 45 days of account opening
The Fine Print
- Members who open a checking account and initiate a qualified direct deposit to Lafayette Federal Credit Union by March 30, 2019 will receive a $50 deposit to their savings account. 2An additional $50 will be awarded after first direct deposit which must be deposited no later than 45 days after account opening.
- 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.
- Must be eligible for membership.
- If account is closed within first 6 months, initial $50 promotional deposit will be deducted from account.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
There is no monthly fee to worry about
Early Account Termination Fee
Account needs to be kept open for 6 months otherwise a $50 fee is charged
Our Verdict
We’ve talked about Lafayette FCU because of the $600 credit card bonus they offer. In terms of this bank bonus we need to know whether it’s a hard or soft pull to open before deciding if it’s worth doing. It’s certainly not the biggest or best bonus, but it might be worth doing if it’s a soft pull. If anybody goes for it then please share your experiences in the comments below.
Big thanks to reader, Bradford N who let us know. Learn how to find bonuses and contribute to the site here.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
