Published on September 14th, 2016 | by William Charles2
[MD only] Montgomery County Employees Federal Credit Union (MC EFCU) $100 Checking Bonus
Offer at a glance
- Maximum bonus amount: $100
- Availability: See eligiblity requirements here. Note that joining Arc of Montgomery costs $35 but is open to all.
- Direct deposit required: Yes, no minimum specified
- Additional requirements: None
- Hard/soft pull: Hard pull
- ChexSystems: Unknown
- Credit card funding: Up to $500
- Monthly fees: None
- Early account termination fee: $100, six months
- Expiration date: October 28th, 2016
- Open a totally free checking account with MC EFCU and receive a sign up bonus of $100 when you receive a qualifying direct deposit (no minimum specified)
The Fine Print
- Open a new MCEFCU personal checking account between August 5, 2016 and October 28, 2016 and earn $100.
- WIthin 90 days of account opening, set up a net pay direct deposit from payroll, Social Security or other government benefits.
- Offer available to members without an existing MCEFCU checking account as of 8/5/2016.
- If the account is closed within six (6) months of opening, a $100 account closure fee will be charged. Employees and family members of MCEFCU are not eligible.
- Offer is subject to cancellation without notice. Standard account qualifications apply. Allow six to eight weeks for bonus to post to your account.
- The amount of the bonus will be reported on Form 1099-INT.
- One-time ACH credits such as payments and transfers do not qualify.
- See branch for additional terms, conditions and restrictions.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Their totally free checking account doesn’t have a monthly fee. You do need to keep the account open for six months otherwise you will be charged a $100 early account closure fee.
Unfortunately the eligibility requirements for this credit union are too strict, the one method that does work will cost you $35 and the bonus itself isn’t generous enough for this to make sense. Plus it’s a hard pull to open this account. Because of this we haven’t added it to our list of the best checking sign up bonuses. They have also offered this $100 bonus in the past. If anybody does complete it then please share your experiences and data points in the comments below.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank