Update 3/17/24: Deal is back and now a $400 bonus.
Update 12/28/22: Bonus is and now for $250 instead of $150.
Offer at a glance
- Maximum bonus amount: $150
- Availability: Must be a Lake or Porter County resident
- Direct deposit required: Yes, but fine print says ACH will work
- Additional requirements: See below
- Hard/soft pull: Soft pull
- ChexSystems: Unknown
- Credit card funding: Up to $250
- Monthly fees: None
- Early account termination fee: Bonus forfeit if account is closed within six months
- Household limit: None
- Expiration date: December 31st, 2020
The Offer
- Purdue Federal Credit Union is offering a checking bonus of $250 when you complete the following requirements:
- Enroll in paperless statements.
- Sign up and use direct deposit of $4,000+
The Fine Print
- $150 bonus offer valid March 1-December 31, 2020 for accounts opened at the Crown Point branch or online with a Lake or Porter County zip code.
- To qualify for bonus, account holder must open a new checking account with direct deposit, have a debit card on the account, be enrolled in paperless statements, and make 10 member-initiated transactions. Direct Deposit is defined as an aggregate of $500 or more in ACH deposits each month for two months within 90 days of account opening.
- Bonus will be deposited into primary share savings account within 10 business days after all conditions have been met.
- Social Security Number required for account holder to receive bonus.
- Bonus is considered interest and will be reported on IRS Form 1099-INT.
- Business accounts not eligible to receive bonus offer.
- If the account is closed within 6 months of account opening, the $150 bonus will be deducted from the account at closing. 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
They offer a free checking account with no monthly fees
Early Account Termination Fee
If the account is closed within six months the bonus forfeit
Our Verdict
Not a huge bonus, but looks like any ACH will work. Will add this to our list of the best bank account bonuses.
Hat tip to reader EW
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