Lafayette Federal Credit Union Offer

Bonus Details

Earn $200 for opening checking and meeting the qualifying direct deposit requirements. Payment arrives within 60 days of meeting requirements.

How To Qualify

Open checking with $5, get a debit card, and enroll in online banking. Establish a qualifying recurring direct deposit within 45 days and maintain at least one deposit of $500 or more each month. Membership also requires opening and maintaining share savings with $50.

The Fine Print

Monthly Fees: None
Account Type: Personal Checking Account
Expiration Date: 12/31/2026
Additional Requirements: Lafayette Federal membership is required. The checking bonus excludes existing members. Only one checking-related bonus per membership; this promotion is limited to one use per membership.
Availability: Nationwide

Monthly Fee Details

No monthly checking fee. Maintain $50 in membership share savings to avoid a $10 monthly fee. Closing within six months costs $25. Checking opening funds exclude the cost of your selected check style.

Early Account Closure Fee

$25 if closed within 6 months of account opening. A previous version of this bonus also specified that the bonus amount will be deducted if closed within 6 months; it's probably safe to assume this is still in force.

Official offer terms

Source wording for the promotion. View official source Recorded Invalid Date.

Offer is valid through December 31, 2026. Offer is subject to change without notice. $200 checking account offer not available to existing Lafayette Federal members. You can receive only one checking account related bonus per membership. Promo is good for one-time use per membership. Member must open a Lafayette Federal checking account, debit card, and online banking to be eligible. To receive $200, member must set up and maintain at least one (1) qualified direct deposit (QDD) of at least $500 per month. 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 or savings account on a month-to-month basis made by an outside organization or agency. QDD must be established within 45 days of account opening. $200 will be deposited within 60 days of meeting requirements. Savings account and loan offer eligible to all new memberships within first 45 days of account opening. To receive $50, member must open a Preferred or Premier savings account and deposit at least $100 into the savings account within the first 45 days of account opening. $50 will be deposited within 60 days of meeting requirements. To receive $50, member must apply for an eligible consumer loan within the first 45 days of account opening. Eligible consumer loan applications include Credit Cards, Signature Loans, Redi Cash Loans, Credit Builder Loans, and Auto Loans. Excluded products include mortgages, Home Equity Loans and Lines of Credit, and Home Improvement Loans. Loan approval is subject to creditworthiness. $50 will be deposited within 60 days of meeting requirements. A $50 minimum balance is required to open and maintain a Lafayette Federal share savings account and earn 0.10% APY (Annual Percentage Yield).