Recent News & Notes
Printer Friendly Version: Winter 2014 "Your Money"
In This Issue:
New Account Promotion
Have You Enrolled For New Online Banking??
Enterprise Perfect Picks
Refinance and Save
We Have What You Need For The 2013 Tax Season!
Check Hold Policy Update
New Year’s Resolution - Move My Checking Account!
Tired Of Paying Fees To Your Bank? Switch Your Checking To LM Federal!
Get a $50 Cash Reward by Opening a New Checking Account
We offer several no-fee checking accounts, including "free checking" that offers no monthly fee and no minimum balance requirement. LMFCU checking includes the following:
No minimum balance or monthly service fee
No limit on check writing & your 1st order of checks are FREE
Surcharge-free ATM withdrawals at over 30,000 Co-op network ATMs
Up to 12 free foreign ATM withdrawals per month
Free use of Online Banking and Internet Bill Pay
Mobile banking and e-statements are also available
For more information, visit or call the office, or go to www.lmfcu.com.
You may open a new checking account in-person or by telephone.
* Direct Deposit is defined as an ACH deposit from the member’s employer of at least $100 per week (or equivalent).Incentive will be deposited once the first direct deposit is posted and confirmed. Checking and Visa Check Cards are subject to approval. Cash bonus will be subtracted from the account if it is closed within 90 days of opening. Promotion Expires 03/31/2014.
Have You Enrolled For New Online Banking??
We introduced our new online banking system in November!
- eStatements and Mobile banking now available
- Account transfers are posted IMMEDIATELY!
- Account balances are always up-to-the-minute!
- Pending check card transactions are listed in account history
- Easy self-service option to reset your login ID and security code (password)
- Extensive text and e-mail account alerts
- Link other accounts to your main account number
Enrolling is easy! Select the "New Online Banking" link on the right column of lmfcu.com. Any member may use New Online Banking (no checking account required!) Click on the "Enroll Online" option in the left column, follow the enrollment instructions and your access is immediately activated!
Searching For A New Or Used Vehicle?
Don’t Forget to Check Out the Amazing
Features of AutoSMART.
- View inventory from 50+ area dealers
- Ability to request a quote on a specific new or used vehicle.
- The quote is sent to multiple dealerships.
- Build your own new vehicle and request a price quote.
- Ability to perform a side-by-side comparison of several vehicles.
- Updated JD Power ratings and vehicle reviews
- New and used vehicle pricing (used values from NADA).
- Vehicle specifications, warranty, recalls & technical service bulletins.
- Integrated Credit Union loan rates, lending program information and our online loan application.
- Extensive credit & credit score tips, financial calculators & advice.
- Easy access through the web or on your smart phone with the AutoSMART mobile app.
Visit lmfcu.com and click on the AutoSMART icon today!
- I need to refinance my vehicle loan
- My credit card interest charges are too high
- I need to reduce my home equity loan rate
Any of the above apply to you?
Refinance your loan or card
balances with LMFCU!
Our vehicle loan rates are
as low as 1.74% APR*
Our home equity loan rates are as low as 3.84% APR*
Our personal loan rates are as low as 8.99% APR*
Apply for a loan in a little as 15 minutes
- Apply for a loan in a little as 15 minutes:
- Online 24 hours a day at lmfcu.com
- By phone Monday - Friday, 9 am - 6 pm EST
(7 pm on Fridays)
- In person with an experienced loan specialist
Home Equity Loans are settled at the Credit Union or at a
location convenient to you. Loans available on your primary
residence in MD, PA, DC, VA & DE.
APR = Annual Percentage Rate. Rates quoted are based on credit, loan-to-value, vehicle age and repayment term. Higher rates will apply for credit scores below 730, higher loan-to-values, older vehicles and other repayment terms.
We Have What You Need
For The 2013 TaxSeason
Hold Onto That Account Statement
The enclosed statement lists the end of year dividend (savings interest) and loan interest amounts paid during 2013. Be sure to keep your account statement with your other financial records. If you earned $10 or more in
dividends, a form 1099-INT will be sent shortly. Form 1098 will be sent if you paid $600 or more in mortgage loan interest, and forms 5498 and 1099-R for various IRA account activity. You may also access this
information by contacting one of our Member
Direct Deposit To Your Account
If you are entitled to a refund of state and/or federal
income tax, you have the option of having your refund sent electronically to your LM Federal account. Use direct deposit to get your refund faster! Your deposit is more secure – there is no check to get lost or delayed in the mail. It’s also more convenient since you won’t need to visit the Credit Union to deposit your check.LM Federal’s routing number is 252076390. Your account number is your standard four or five digit member account number. Deposits may be made to your primary share/savings or checking account. Split Deposits: Taxpayers can choose up to three separate accounts for the deposit of their federal tax refund. Learn more about split deposits at www.irs.gov.
Important IRS Contact Information:
Web address: www.irs.gov
Tax Forms: 800-829-3676
Recorded Tax Info: 800-829-4477
Refund Status: 800-829-4477
Tax Help Line: 800-829-1040
Refund Hotline: 800-829-1954
Baltimore Area Office: 410-962-7969
Maryland Comptroller: 1-800-MD-Taxes or 410-260-7980
Discount on Tax Preparation
It’s tax time! We have partnered with TurboTax Online again, the best selling online tax preparation software, to offer access directly from our website.
Receive a $5.00 discount on TurboTax Online if you go through the link on the Credit Union’s website!
Visit lmfcu.com and click on the “TurboTax” icon to prepare and file your federal and state tax returns online.
TurboTax® guides you step by step like a GPS to get your maxmum refund guaranteed!
Only TurboTax® offers you Total Assurance™ –
confidence to get your maximum refund and
100% accurate calculations, guaranteed. Plus, FREE Audit Support Center. Your refund will be deposited in as little as 10 days to the account of your choice!
Looking for Tax Deductions?
Consider an IRA!
LM Federal offers Traditional IRAs, Roth IRAs and the Coverdell Educational Savings Accounts to meet your individual retirement needs. All are available as
Certificates, Money Markets or Share accounts. You may transfer funds from other IRA accounts or from any Qualified Retirement Plan (including 401k plans) to an LM Federal IRA. Plus, there are no annual maintenance fees! Regular IRA contributions may be made by payroll deduction, the mail, or in person.
Traditional IRA: Contributions to a Traditional IRA may
be tax deductible. You have until Tuesday, April 15, 2014 to make contributions towards the 2013 tax year!
Plus, your earnings grow tax deferred!
Jackson Hewitt Discount
LMFCU members are eligible to save either $30 on their individual income tax preparation at participating Jackson Hewitt Tax Service® locations nationwide or pay $50 less than last year* when you switch to Jackson Hewitt from a competing tax preparer.
* Restrictions apply - call 800-234-1040 or visit
www.JacksonHewitt.com for details.
Check Hold Policy Update:
We are experiencing an increase in fraudulent check deposits.
In response the Credit Union’s check hold periods for deposited or cashed checks exceeding $5,000.00 which do not qualify for immediate or next day availability will be changed effective
February 3rd as follows. The holds placed on deposits of $5,000.00 or less are unchanged.
Check Deposits At the Credit Union or Our ATM:
Deposits exceeding $5,000.00: $100.00 available immediately,
$100.00 available the next business day, next $4,800.00 available the 2nd business day, remaining amount available
the 4th business day.
Check Deposits At a Foreign ATM:
Deposits exceeding $5,000.00: $100.00 available immediately, next $4,900.00 available the 2nd business day, remaining amount available the 5th business day.