[CA only] KeyPoint Credit Union $300 Checking Bonus

Update 1/27/24: Looks like this is available nationwide by joining Financial Fitness Association. KeyPoint pays the membership fee as well

Update 1/15/23: No end date listed.

Update 10/14/22: Extended until December 31, 2022.

Update 5/24/22: Deal is now $300. Hat tip to Kwan

Update 5/12/22: $200 bonus only available via referral.

Update 1/6/22: Bonus down to $200 again.

Update 7/15/21: Referral bonus has been increased to $200 (previously $100). Person signing up still gets $300.

Update 1/3/2021: Bonus now $300 instead of $200. Hat tip to reader ShawntheShawn. New link with no referral

There is also a $200 bonus that doesn’t require a referral.

Update 3/11/20: Deal is back, hat tip to reader VK

Offer at a glance

• Maximum bonus amount: $300
• Availability: Must live work, worship or attend school in one of the following eligible counties: Contra Costa, El Dorado, Placer, Sacramento, Santa Barbara, Santa Clara, Alameda, San Mateo, Ventura (designated areas only).
• Direct deposit required: Yes, $1,000+
• Additional requirements: Use promo code
• Hard/soft pull: Soft pull
• ChexSystems: Unknown, sensitive
• Credit card funding: Up To $2,500 $12,500 $500
• Monthly fees: None
• Early account termination fee: None
• Household limit: None
• Expiration date: None listed

The Offer

Direct link to offer ($200 + $100 referral bonus) | ($300 bonus)

• KeyPoint Credit Union is offering a bonus of $300 when you open a new checking account and complete the following requirements:
  • Use promo code NM2023
  • Set up a recurring monthly direct deposit of $1,000+ per month within 60 days of account opening to get a $200 bonus
  • Make 40 debit card purchases and get a $100 bonus

 

The Fine Print

• New Member bonus is paid within 90 days of account opening if (a) you open your KeyPoint checking account with the required minimum balance and (b) you set up recurring monthly direct deposit of net pay or other income ($1,000 per month minimum) to your KeyPoint checking account and the first direct deposit posts within 60 days after account opening.
• New KeyPoint membership required. Individuals who have been KeyPoint Members within one calendar year prior to account opening are not eligible.
• Direct deposit must be new to KeyPoint, not moved from an existing KeyPoint account.
• Offer cannot be combined with other promotions
• KeyPoint employees, officials and their immediate families may not participate.
• 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 an early account termination fee in the fee schedule.

Our Verdict

Unfortunately seems like they are incredibly ChexSystems sensitive, that’s a shame as otherwise this would be a bonus definitely worth doing.

Hat tip to David V

Useful posts regarding bank bonuses:

• A Beginners Guide To Bank Account Bonuses
• Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
• 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
• Banks That Allow/Don’t Allow Out Of State Checking Applications
• Bank Bonus Posting Times