Offer at a glance
- Maximum bonus amount:
- Availability: DE, PA and NJ only. Might be nationwide with $10 donation but lots of accounts were not approved last time.
- Direct deposit required: Yes, no minimum specified
- Additional requirements:See below
- Hard/soft pull: Soft
- ChexSystems: Yes
- Credit card funding: $550
- Monthly fees: None
- Early account termination fee: None
- Household limit: None listed
- Expiration date: None listed
The Offer
- Sun East Federal Credit Union is offering a $150 referral bonus to both parties when the new customer completes the following requirements:
- open a checking account,
- establish direct deposit, and conduct at least 1 direct deposit transaction into the checking account within 45 days of account activation
- deposit a minimum of $250 within 45 days of account activation and have $250 in the account on day 45
The Fine Print
- To be eligible for the program an Advocate must be a Sun East member in good standing, as defined in our bylaws, having a principal residence in Delaware, Maryland, New Jersey, or Pennsylvania, and has been a member for at least 6 months.
- The referred new member or Friend must remain in good standing for 45 days from the date of account opening. A Friend must also: 1) meet the residency requirements; 2) open a checking account, establish direct deposit, and conduct at least 1 direct deposit transaction into the checking account within 45 days of account activation; and 3) deposit a minimum of $250 within 45 days of account activation and have $250 in the account on day 45. Internal account transfers (transfers between accounts held by Sun East) are not eligible to meet the checking account minimum.
- Existing primary members/Advocates and joint owners on such accounts who open new accounts do not qualify as Friends and will not receive a referral bonus. Former members may qualify as a Friend if their account was closed for at least 6 months before the date of reopening.
- Once a Friend is referred by an Advocate, no other members may refer that same Friend.
- Members who open accounts by fraudulent, suspicious, or illegal means, or who make referrals or open accounts in a manner not consistent with the spirit or intent of the Program, as determined in our sole discretion, are not eligible to participate and referral bonuses will be denied.
- A valid referral for the reward bonus requires:
- Advocate must remain in good standing for the 45 days of Friend’s account opening;
- Friend must complete the Sun East membership application by accessing it through the Advocate’s personal link; and
- Friend must be approved for membership, meet the residency requirements, and account requirements as disclosed.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
This account has no monthly fees to worry about.
Early Account Termination Fee
I wasn’t able to find a fee schedule so unsure if there is any EATF.
Our Verdict
Previously there was a $300 checking bonus. Feel free to share your referrals in the comments below. Anyone can join Sun East credit union with a $10 donation to the Sun East Foundation if they don’t meet the local criteria. A lot of people were denied when there was a high yield account offer.
Hat tip to reader Phil P
Useful posts regarding bank bonuses: