Offer at a glance
- Maximum bonus amount: $250
- Availability: If you are a volunteer for, an employee, student or alumni of, or a retiree from a public school system, private school, college or university, education related organization or an immediate family member of thereof, you can become a member of the Support Education Foundation. Foundation membership is established by making a minimum contribution of $15 each year. As a member, you’re eligible to open an account with Educational Systems Federal Credit Union
- Direct deposit required: Yes, $700+
- Additional requirements: eStatements
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: $10, avoidable
- Early account termination fee: Unknown
- Household limit: None listed
- Expiration date: July 31, 2023
The Offer
- Educational Systems Federal Credit Union is offering a $250 bonus when you open a new checking account and complete the following requirements:
- Sign up for eStatements
- A direct deposit of at least $700+ per pay period
The Fine Print
- To qualify for the $250 bonus dividend, a new Checking account must be opened between June 15 and July 31, 2023 with eStatements and a minimum Direct Deposit of at least $700 per pay period from payroll, retirement income sources or social security that posts to the account by October 31, 2023.
- The $250 Bonus Dividend will be posted to the member’s savings account within 10 business days after the qualifying Direct Deposit posts and validation of eStatement enrollment.
- May be reported as taxable income.
- This promotion cannot be combined with other offers.
- Offer subject to change without notice.
- Membership eligibility required.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
There is a $10 monthly fee on the dividend checking account. This is waived with a $500 minimum balance.
Early Account Termination Fee
I wasn’t able to find a fee schedule so unsure if any EATF is charged.
Our Verdict
Looks like anybody can join by becoming a member for $15. Obviously need to know more about the account opening process, but if everything works out and it’s a soft pull then this does look to be an easy nationwide bonus.
Hat tip to ShawntheShawn
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