Offer at a glance
- APY: Up to 7.50% APY on balances up to $500 when you meet the requirements
- Availability: Southern Wisconsin and Northeastern Illinois only
- Direct deposit required: Recurring monthly direct deposit of at least $250
- Additional requirements: Enroll in eStatements
- Hard/soft pull: Unknown
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: $100, 90 days
- Expiration date: None listed
Landmark Credit Union offers a premium checking account offers a rate of 7.50% on balances up to $500. To receive this rate you must do the following:
- Be enrolled in eStatements
- Direct a direct deposit of at least $250 per month
On balances over $500 you’ll only earn 0.20% APY. There is also a $100 bonus for opening the account, but unfortunately this looks to be targeted as you need a promotional code.
Our Verdict
7.50% rate makes it sound amazing, but when you realize that’s only a little over $3 in interest a month your enthusiasm will quickly be killed. There are much better high interest savings accounts out there. If you could get the $100 sign up bonus as well then maybe this would be a little bit more interesting, but as it stands this is an easy pass for everybody.
I just had to create a checking/savings account with Landmark to become a member and be eligible to get a mortgage with them (as they will be my loan servicer). I can confirm that there is no hard pull for this Premium Checking Account (the one that gives 7.5% APY). Just a soft inquiry. They did require that I open the savings along with the checking, which needs to have a minimum balance of $5. Since I opened in-branch, we didn’t have any CC funding options (and just wrote them a check from an outside bank).
To earn the high APY on the checking balance, you need to “direct deposit” $250/month, but their fine print says “ACH transfer $250/month”. I’ll report back in a month if my push from Ally counted (which would be great, as I’ll just set up auto push/pull and collect the $3.12 of interest each month).
Looks like their dividends payout on the 1st of the month. This means my ACH push from Ally did count as a qualifying DD.
can you send referral link?
Only a very small part of Illinois is eligible – Lake and McHenry counties only.
Credit card funding for V/M/D up to $500 per account.
@rd If you could share the link, it’d be appreciated.
I have LCU. I’m pretty sure they did a soft pull. Really easy to apply, and I learned I have a branch less than 5 minutes away from me! Great so far! 🙂 If anyone needs a referral link, reply to my post.
Can I get your referral link?
Can I get a referral link?
can i get referral link?
can you give me referral
If someone is genuinely interested in this for some reason, Citi has a 10% promo on up to $500 as well. I’ve seen this publicly advertised on the Citi branch on Market St, San Francisco.
Looks like the banks are even putting out clickbait.
who would even bother with $500…
Exactly! This is as heinous as scams on old people…like me..lol!!! It will always hold true that “If it sounds to good to be true, it is….”
I will say this though, it does say up to $500….lol…you just have to read fine print and guide lines. What they are doing is not illegal but surely unethical…I can get that great .11% interest on a Money Market at my Bank…maybe even a bit more. Beware.