Lockheed Federal Credit Union has a nice checking account promotion in which you can earn up to $150. The promotion is scheduled to last until 9/30/2011. Details are listed at the credit union's promotions page. Here are the steps to receive the full $150 bonus:
- $50 for opening a checking account with $250
- $50 when you sign up for monthly direct deposits of at least $100 (within 60 days of opening account)
- $50 when you use Web BillPay to make 3 electronic payments (within 60 days of opening account)
Here's the offer's small print:
Offer expires September 30, 2011. Here’s how to get your $150 cash: $50 when you open checking ($250 minimum balance). $50 when you sign up for monthly direct deposits (of $100 or more). $50 when you use Web BillPay to make three electronic payments. Direct Deposit and Bill Pay activity must occur within 60 days of your Checking Account open date to earn bonus. Bonus amounts are taxable. Limit one per household. Current LFCU checking accounts are excluded from this offer. Free box of “planes of fame” style checks (every rolling 12 months; Relationship Rewards benefit). You will earn one rewards point for every $2 in “signature” purchases you make. Must enroll to earn points.
Free Checking with E-Statements
LFCU's best checking account is the Advantage Checking. It does have a $2.95 monthly fee, but you can have this waived with e-statements.
Hard Credit Inquiry
I did a chat with the CSR this morning and confirmed this promotion. I was told they do a hard credit inquiry in the checking application process. This can temporarily ding your credit score.
According to the promo page, this offer is available only for new checking accounts opened in an LFCU branch. Lockheed Federal Credit Union branches are located in several Southern California cities. There's also a branch in Nashua, New Hampshire.
In addition to employees of Lockheed Martin companies, credit union membership is open to members of the Achievers Club. According to the credit union's eligibility page:
You can qualify for membership by joining the "American Consumer Council". There is no fee to join this not-for-profit organization. Simply select "American Consumer Council" from the Membership Eligibility menu when you open your account.
Membership requires a $5 minimum balance in a share savings account.
LFCU Financial Overview
Lockheed Federal Credit Union is a sizable credit union with $3.06 billion in assets. It has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas Ratio of 13.86% (above average) based on June 2011 data. Please refer to our financial overview of Lockheed Federal Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 1999).
Other Bank and Credit Union Bonuses
We have a new bank promotions page with a table of all of the active bank and credit union promotions. You can filter the table based on the type of promotion and based on your state. I have more details about how to use this page in this blog post.