Offer at a glance
The Offer
- Community Financial Credit Union is offering of up to $1,000 checking bonus when you open a new checking account and set up direct deposit through February 2025:
- $1,000 Bonus with monthly direct deposit of $10,001 or more
- $500 Bonus with monthly direct deposit of $5,001 to $10,000
- $300 Bonus with monthly direct deposit of $3,000 to $5,000
Direct Deposit must start within 8 weeks of account opening and continue through February 2025.
The Fine Print
- Accounts must be opened by October 31, 2024. Direct deposits must be active within 8 weeks of account opening. Monthly direct deposit amounts must meet a tier’s minimum amount each month to qualify for the bonus. One bonus per member.
- Open only to new checking account holders.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
This is a free checking account has no monthly fees to worry about.
Early Account Termination Fee
According to the fee schedule there is a $15 fee if closed within 180 days.
Our Verdict
Great deal if you’re eligible for an account and have a large direct deposit to move over. The previous deal was for $750 without the high direct deposit requirements – see the comments on the prior posts to read experiences with the credit union.
Hat tip to reader killdozer
Useful posts regarding bank bonuses: