Published on May 15th, 2017 | by Chuck37
Elements Financial 2% APY Rewards Checking on up to $20,000 $200 Bonus
Offer at a glance
- Maximum bonus amount: 2% APY
- Availability: Nationwide
- Additional requirements: 15 transactions
- Hard/soft pull: Soft
- ChexSystems: Yes
- Credit card funding: None
- Monthly fees: None with e-statements
- Insured: NCUA
- Element Financial Credit Union offers a rewards checking with a 2% APY rate on balances up to $20,000
To be eligible for the 2% rate:
- You must have at least 15 transaction on the account each month; this includes the following: debit card purchases, checks, bill payments, ATM withdrawals
- You must have a balance of $100 or more
There’s also a $200 bonus for opening up the checking account if you use promo code: CHECK200
The promo page is for State of Indiana employees and family members, but a reader notes they got the bonus by using the promo code despite not being an employee or family so it might work for anyone. Update: Lots of readers have reported getting this bonus now. In addition some readers that wouldn’t be eligible under those linked rules have received an e-mail with the same promo code and bonus so should be open to all.
The Fine Print
- Annual Percentage Yield is variable and may change after account is opened. APY is 2.00% on balances up to $20,000, 0.10% on balances greater than $20,000.
- Dividends will be paid per statement cycle requirement.
- At least one accountholder must be at least 18 years old.
- You must maintain a minimum average daily balance of $100 to earn dividends. Accounts not meeting the qualifying threshold will earn 0.05% APY.
To save yourself from the $5 monthly fee, be sure to enroll in e-statements.
The credit union is available to anyone nationwide. Most people will only be eligible to join the credit union by paying a $5 fee to Tru Direction.
This isn’t the best rewards checking account but the $200 bonus makes it worth signing up for. Because of that I will be adding this to our list of the best checking account bonuses. Elements also has a number of credit cards that offer a $300 cash bonus.