Posted by William Charles on January 18, 2020
Bank Account Bonuses

Published on January 18th, 2020 | by William Charles

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[AZ only] Arizona Central Credit Union $200 Checking Bonus

Update 1/18/2020: Deal is back and available through December 31st, 2020.

Update 01/17/18: Deal is back and available through December 31st, 2019. Still not worth doing due to the hard pull.

Update 01/17/18: Deal is back and available through December 31st, 2018. Still not worth doing due to the hard pull.

Update: Deal is back and now expires December 31st, 2016. Still not worth doing due to the hard pull.

This deal is now expired, but Arizona Central Credit Union is now offering a $100 referral bonus for people you refer, you’ll also receive $100 for referring.

Offer at a glance

  • Maximum bonus amount: $200
  • Availability: AZ only
  • Direct deposit required: Yes, $250+ per month
  • Additional requirements: Enroll in eStatements and perform at least 10 check card transactions
  • Hard/soft pull: Hard pull (Equifax)
  • Credit card funding: Unsure
  • Monthly fees: $5-$15, waive able
  • Early account termination fee: Bonus clawed back if closed within six months
  • Expiration date: December 31st, 2014  December 31st, 2016 December 31st, 2018 December 31st, 2019

The Offer

Direct link to offer

  • Receive a $200 bonus from Arizona central credit union when you:
    • Receive a direct deposit of at least $250/month
    • Sign up and enroll in eStatements
    • Perform at least ten signature based check card transactions

arizona central credit union

 

The Fine Print

  • $200 bonus will be deposited within ten days of completing the bonus requirements
  • Bonus requirements must be completed within 60 days of account opening
  • Only available to new members with no existing accounts at ACCU
  • Considered a new member as long as your account was cancelled twelve months prior to opening this new account
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

It’s necessary to maintain a balance of at least $25 at all times.

AzStyle Checking Account $5 Monthly

The $5 monthly fee is waived if you have 10 or more signature based transactions using your check card.

MyStyle Checking Account $10 Monthly

The monthly fee is waived if you are enrolled in eStatements and receive a direct deposit of $250 or more

There are also the HighStyle checking account that has a $15 monthly fee which is waived if you have a balance above $5,000 and teen checking or iStyle account for those between 13-23 which is free.

Early Account Closure Fee

If the account is closed within 6 months then you will forfeit the $200 bonus.

Our Verdict

I don’t live in Arizona, but even if I did I wouldn’t be completing this deal. A hard pull with Equifax makes this a dead-killer, you’d be better off signing up for a credit card with a cash bonus. Aside from that the number of signature debit card transactions is also prohibitive (10 for the bonus and another 10 per month for six months to keep it fee free) and we aren’t sure if anything other than a real employer payroll or government benefit will trigger this bonus.

If you do decide to go for this bonus, I’d recommend reading our listing of better deals first. We’ve added this to the list of state specific checking bonuses. Also let us know if you were able to fund with a credit card and how much you were able to and what counted as a direct deposit.

Direct link to offer | Screenshot of offer



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thedimt
thedimt

Deal is still alive

Curmudgeon
Curmudgeon
Shirley
Shirley

Where do you see the new available date to sign up by 12/31/2018? The page link still says 12/31/2017 for both the $200 sign up bonus and the $100 referral bonus.

Shirley
Shirley

Found it at the same link that Curmudgeon references when the promo was extended to 12/31/2017:

http://www.azcentralcu.org/home/other/offers/account-promo

Shirley
Shirley

Okay, I emailed them for some information and applied based on that information and found out some things from them that others might be interested in should you want to give it a try.

1) They do not do a hard pull but a soft pull from Chexsystems.
2) Anyone can apply even from out of state if you meet the eligibility requirement of being either a Roman Catholic, Baptist or Mormon. Doesn’t require proof.
3) Anything that comes electronically is considered a direct deposit so ACH transfers should work.
4) In March they will be combining their current checking accounts into a Simple Checking account that will require either 15 debit (non-PIN) transactions or a direct deposit of $250 to keep it fee free. You can sign up now choosing one of the current checking accounts as listed above but it will be transitioned to the new simple checking in March.
5) The online application process is pretty straight forward but at the end, they manually review the application before a decision is made the next day.

I was hoping to test all of the above by applying for membership, send ACH transfers for the direct deposit (with time to make a real employer direct deposit within the required 60 days) and 10 debit transactions but was denied due to chexsystems or as they said in my rejection email: “we are unable to open the account because of an outstanding Chexsystems record”.

I have probably 10-12 new accounts in the last year and maybe 3-4 in the last 6 months so keep that in mind.

Shirley
Shirley

One other thing. There is no credit card funding when opening the account, they ask for your bank information to fund the required $25 member savings.

NewMunicipality
NewMunicipality

This offer has been extended to 12/31/2019.

arizonapv
arizonapv

What do you enter when you say: I work for or belong to one of AZ Central CU’s partners

How do I find out what are the AZ Central CU’s partners? Is there a list?

DaveInAZ
DaveInAZ

As Nancy Reagan used to say: “Just say No”.
I did this a couple years ago, I wouldn’t say not worth doing because of a hard pull, EQ is one of least pulled CRAs. The promo seems to be ongoing year after year, but not a particularly good CU. I opened my account in branch and when I didn’t get my bonus I called, turns out the ditz that opened my account forgot to mark my account for the bonus, they fixed it. I closed the account soon after the 6 months term with clawback of bonus.
My main AZ banking is with Vantage West and BBVA. But I also have accounts at OneAZ because you can have up to 10 Club Savings accounts that can be funded with a CC, great for CC SUB spends.

arizonapv
arizonapv

We have similar stories. I have BBVA and don’t particularly care for them. I use BMO as my main bank. I know about the accounts at OneAZ. The CC SUB spend did not work for a PNC credit card. I did not get the bonus because PNC said my spends had to be at a retail store. So, if you just say “no” then you cannot open the account because this means you have no affiliation?

Adam
Adam

This offer is still available through 12/31/2020 per their website.

desert rat
desert rat

Is there any recent verification re hard or soft pull? In the comments above, Dave in AZ implies it was a hard pull, but doesnt state that definitely; Shirley says she spoke to them and they said it wasnt hard pull, just a chex pull. Shirley does say they are somewhat chex sensitive. So, is it a hard pull or soft pull – anyone know? Thanks

DaveInAZ
DaveInAZ

Ok, it was definitely a hard pull for me, I opened it in branch and the rep told me she was going to pull my credit and I remember seeing the HP on Credit Karma. But that was back early in 2017, it’s possible they might have changed, if you call they should be able to confirm. When I joined DCU (Digital CU) in Oct. 2017 it was a HP to join but no longer is. (DCU doesn’t do new account bonuses, I joined for great car loan rate)
I also don’t remember having to do the 10 debit card swipes, and I hate debit swipe requirements. (Yeah, Amazon gift card is easy but I rarely shop Amazon) I used payroll DDs so I don’t know if other ACH deposits will trigger the bonus. Shirley’s info that they told her any electronic deposit is considered a DD is interesting, but I would follow her plan of doing an ACH to see if that triggers the bonus but leave enough time to do a payroll DD if it doesn’t.
If it’s not a hard pull and any ACH triggers the bonus I might do it again.

desert rat
desert rat

Thanks. I may try call them on Tuesday re hard pull. (OMG how can you survive w/o shopping on Amazon? I’m pretty sure that’s not legal!) I guess if it’s soft pull, next hurdle would be chex sensitivity.
Did you join one of their partners?
Edit: Oh, I see this language on their app page: “I am an Arizona resident who currently holds, or has held, membership in an out-of-state credit union” so I guess that’s enough to qualify to join this CU.

Blake
Blake

Did you end up calling them?

desert rat
desert rat

No, i never got around to calling. Read thru the recent comments again today and seems to be chex sensitive, so, although i am jonesing to apply for a new account (bless me, doctor, it’s been 26 days since my last account was opened), guess I will continue to give this a pass.

Kool
Kool

Any Recent Data Points of if it is a Hard pull to open?

DaveInAZ
DaveInAZ

William Charles You might want to update checking account choices for 2020:
– Simple Checking, fee free w/any 2 of following:
eStatements; $250 monthly DD; 15 debit swipes monthly; age 23 or under; or avg. $2500 balance in all accounts

– Money Market Checking – $5k daily min.bal.fee free. otherwise $15/mo. fee
Interest: .10% $1-9,999; .15% $10k-49,999; .20% $50k-99,999. .25% $100k+

The Simple Checking is the obvious choice unless you want to tie up large funds for peanuts

DaveInAZ
DaveInAZ

@ desert rat OK, I applied for membership & checking w/bonus. I called first, because the 3rd party website processing the app only listed the old AZstyle & MyStyle checking accounts. Rep said “sorry”, they haven’t updated that yet & to chose AZstyle & it will convert to Simple checking. Then I asked about credit pull, rep told me they now use Experian and it’s a soft pull. I keep all 3 credit reports locked, so I logged into my Experian service & unlocked EX as it usually need to be unlocked even for a soft pull. App completed and NO Hard Pull! They apparently also pull Chex (see Shirley comment), even though I do bank bonuses regularly I never have a problem with Chex.
So, safe to app w/no hard pull.

Jim
Jim

Very helpful, thanks

Do let us know when you get approved. Bit concerned about Chex denial…

Looking around the offer page, the $250 DD is required for six months, which is pretty long. Wonder if you inquired about this?

DaveInAZ
DaveInAZ

Well, looks like they are Chex sensitive, got denied based on my Chex report which I know is clean and never been denied before. I’ve opened around 10 bank accounts over the last year, but only half of those use Chex, the others use EWS. So looks like 4-5 new accounts in the last year are too much more them.

desert rat
desert rat

Thanks, DaveInAZ. Too bad about chex – there haven’t been any AZ-eligible bonuses lately, so would really like to be able to do this one.

arizonapv
arizonapv

I was declined due to Chex. I have over 50 inquiries in 12 months.

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