Update 7/12/23: Bonus now $400
Update 3/1/23: Bonus is now $500. Still worth doing.
Update 1/10/23: Looks like all it’s actually available nationwide with a membership to The American Consumer Council (free to join). Hat tip to reader Beltway
Update 1/8/23: Bonus has been increased to $518. Hat tip to reader Diego
Offer at a glance
- Maximum bonus amount: $200
- Availability: VA
- Direct deposit required: Yes, $250+
- Additional requirements: See below
- Hard/soft pull: Soft pull
- ChexSystems: Unknown, sensitive
- Credit card funding: Up to $500
- Monthly fees: None
- Early account termination fee: Unknown
- Household limit: None listed
- Expiration date:
12/31/202112/31/20222.28.23
The Offer
- United States Senate Federal Credit Union is offering a bonus of $200 when you become a member of USSFCU. Bonus is broken down as follows:
- $100 – Open a Senate Checking Account and make five $5 debit transactions within 30 days
- $100 – Receive two “qualifying direct deposits” of $250 or more within 60 days
- $100 – Deposit $2,000 into a Money Market Account (APY 1.25%) and hold for 6 months
- $200 – Deposit $5,000 into a Share Certificate (APY 3.98%) of 24 months or more
The Fine Print
- 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
It looked like this might be nationwide, but you need to join the VA American Consumer Council chapter rather than the nationwide one. Bonus itself is pretty average to good and worth doing, will add this to our list of the best bank account bonuses.
Hat tip to Bertrand
Useful posts regarding bank bonuses:
Post history:
- Update 4/17/22: Deal is back and valid until 12/31/2022.
- Update 1/22/22: Deal is back and extended until 03/31/2022.