- Contact Information
What Is A Credit Union? Why Is It Different?
A credit union is a non-profit financial institution owned and operated by its members rather than by outside stockholders. A credit union typically offers better rates on savings and loan products than other, profit-driven financial institutions. Similarly, credit unions usually charge lower account fees or none at all.
LM Federal is a federally insured financial institution serving employees and retirees of select Lockheed Martin groups, Middle River Aircraft Systems, and those working at the Warfield Air National Guard base. LM Federal provides its members with many unique financial products as well as superior member service.
You can join the credit union if you belong to one of these groups:
To become a member of the Credit Union, simply open a LM Federal Share (Savings) Account. New memberships may be opened by telephone, in person or through the mail. The initial deposit to open your account may be made by check (mailed or by phone), cash or through payroll deductions. Once the Share Account is open with a balance of $25, your membership is active and you are immediately eligible to use any Credit Union service. If you close your membership, the $25 deposit is returned to you. Give us a call at (800) 410-0501 or contact us via
Service History of LM Federal Credit Union
1949 Credit union is organized by the employees of the Glen L. Martin Aircraft Company in Baltimore.
1970 The Martin company offers payroll deductions.
1971 Federal deposit insurance coverage is extended to credit unions.
1983 All records are computerized; holiday and vacation club accounts are offered.
1987-1988 Major computer upgrade is completed. Signature line of credit loans, cash withdrawals & check cashing, and certificate accounts are offered.
1990 Checking accounts and home equity loans are offered; office hours extended to five days per week.
1992 Cashiers Checks are offered; family membership eligibility extended; offices relocated to a new building at the Middle River facility.
1993 Individual Retirement Accounts are offered.
1995 Regular and IRA money market accounts are available; toll-free 800 number established; name changed to LM Federal Credit Union.
1996 Major computer system upgrade is completed; ATM access with LM Federal checking and MoneyMover funds transfer service become available.
1997 Credit Based Rates lending program is implemented.
1998 Roth and Educational IRAs are offered.
1999 The Credit Union's website is activated.
2000 Autodraft and Touch Tone Teller are introduced.
2001 Membership Rewards Program, Visa Check Cards, Internet Branch (online banking) and Internet Bill Pay are introduced.
2002 Free Checking and Entertainment Book sales are introduced.
2004 Credit Union relocates to "T" building at the Middle River Facility. ATM, Night Depository Box and Drive-Thru teller service are available at the new office.
2005 Vehicle Extended Warranties are offered.
2006 Over 5,000 ATM's located at 7-11 stores are added to the Co-op network
2007 Activated a new deposit and loan processing system which streamlines and shortens the time it takes to apply for and receive new loans and new deposit accounts.
2008 * A coin machine is installed in the lobby allowing members to bring in loose coin for deposit or to cash-in.
2009 Discounted movie passes for AMC and Regal theaters are available. Discounted tickets to the Baltimore Zoo are also available.
2010 The AutoSMART Center at www.lmfcu.com was introduced: a full service online tool for auto researching and purchasing needs.
2011 Outgoing domestic and international wire transfer service was introduced.