Update 11/20/22: Good through 12/31/22.

Update 11/15/22: They just sent out an email offer for existing customers to get a $20 gas gift card when making 20 debit card purchases between November 15 – December 15, 2022. (ht AllenW)

Offer at a glance

  • Maximum bonus amount: $200
  • Availability: Anybody can join by making a one time donation to SECU MD Foundation
  • Direct deposit required: Yes, $500+
  • Additional requirements:
  • Hard/soft pull: Soft Pull
  • ChexSystems: Unknown
  • Credit card funding: None
  • Monthly fees: None
  • Early account termination fee: None
  • Household limit: None listed
  • Expiration date: 11/30/22 12/31/22

The Offer

Direct link to offer

  • SECU is offering a $200 checking bonus when you open a TotalTM Checking & Rewards account and complete the following requirements:
    • Set up eStatements
    • Set up a qualifying direct deposit of at least $500 within 90 days

The Fine Print

  • $200 offer valid from 8/15/22 – 11/30/22 for new SECU members that open a new SECU TotalTM Checking & Rewards account and meet the following criteria: 1) Join SECU between 8/15/22 and 11/30/22; within 90 days of establishing membership: 2) Open a SECU TotalTM Checking & Rewards account; 3) Set up e-statements; and 4) Set up a qualifying Direct Deposit of at least $500/month that posts to your checking account within 90 days.
  • Qualifying direct deposits include recurring electronic deposits of payroll, pension or Social Security. Person to person, bank transfers or other electronic money transfers, such as those made through internet payment services, do not qualify.
  • All criteria must be met within 90 days of opening the membership. SECU will credit one cash bonus of $200 to the primary owner of the new SECU checking account within 6 weeks of meeting the requirements.
  • Promotional period and offer are subject to change at any time without notice.
  • The promotional bonus is limited to one per member.
  • Existing members that joined SECU prior to 8/15/22 or previously had a checking account are not eligible for this offer. Advertised bonus cannot be combined with any other offer.
  • Membership eligibility required.
  • Bonuses are considered miscellaneous income, and may be reported as income to the IRS on Form 1099-MISC. Federally insured by NCUA.
  • 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

There is no EATF in the fee schedule.

Our Verdict

Will be interesting to see if they actually allow nationwide account openings. Requirements are relatively easy but we don’t know what does/doesn’t code as a direct deposit unfortunately.

Hat tip to Bockrr

Useful posts regarding bank bonuses:

William Charles

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