[CA, Select Counties] Monterey Credit Union $225 Checking Bonus, No Direct Deposit Required

Offer at a glance

  • Maximum bonus amount:
  • Availability: Membership is open to those who live and/or work in Monterey, San Benito, Santa Cruz, Santa Clara, or San Luis Obispo Counties in CA
  • Direct deposit required: No
  • Additional requirements: See below
  • Hard/soft pull: Unknown
  • ChexSystems: Unknown
  • Credit card funding: Unknown
  • Monthly fees: None
  • Early account termination fee: $25, 180 days
  • Household limit: One
  • Expiration date: None listed

The Offer

Direct link to offer

  • Monterey Credit Union is offering a $225 checking bonus when you open a new account (MCU Live Full or Cash Back Checking Account) and complete the following requirements:
    • enroll in MCU’s Online Banking, E-statement, and mobile deposit services.

The Fine Print

  • $225 offer available to current and new members of MCU who have not had an MCU Checking Account during the previous 12 months.
  • To receive $225, member must open an MCU Live Full or Cash Back Checking Account and enroll in MCU’s Online Banking, E-statement, and mobile deposit services.
  • The $225 incentive check can be redeemed only by mobile deposit to the member’s Live Full or Cash Back Checking Account
  • . One incentive per household, determined by residence address.
  • Not available on business accounts or to households that have previously received an incentive to open an MCU Checking Account. MCU employees and their spouses are not eligible.
  • Limited time offer; subject to change or cancellation without notice.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Both accounts have no monthly fees. 

Early Account Termination Fee

There is a $25 fee if the account is closed within 180 days of account opening 

Our Verdict

Seems to be worth doing if you’re in an eligible area as there is no direct deposit required. 

Hat tip to reader snailrock

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    William Charles
  • On August 10, 2025, 14:00
Tags: ca bank bonusesdirect deposit not required

View Comments (9)

  • Also want to add. It does allow CC funding but didn't tell me the limit. I put $5K, but it never charged my CC (Cap 1 Venture X).

  • Totally a waste of time. I applied and got an email to submit my DD again which I did during the application. My Chek got pulled again (twice in two days) and now they sent me a message asking me to come in the branch to open the account. The nearest branch is 4 hours away (I live within the footprint). No thanks!

  • At the bottom of their checking account page:

    Important: Monterey Credit Union is a nonprofit community cooperative. If you do not intend to use MCU for your primary checking, please do not open the account.

  • I applied this morning, got a call from a rep, they’re saying I need to unfreeze my credit. I asked if it was a soft or hard pull, she didn’t know, after more nagging on my part she said it’s the same credit pull as lending, so I said no thanks, no hard pull for me, cancel my application.

    • It's probably a soft pull. Few reps know the difference. A soft pull costs them less so that's what most of them do for membership.

      But if it's a hard, it will only be on one bureau. Did she tell you which one to unfreeze?

      It's effectively just 1/3 pull if you can spread your inquiries... could be worth it, they only hurt you a tiny bit for a few months.

  • Monterey Credit Union is not NCUA insured but has some private insurance called American Share Insurance. Just a heads up for anyone considering storing a bigger chunk of change with them.

  • Anyone knows whether it’s Chex sensitive? My Dad lives in San Luis Obispo so I could use his address but I have LOL/24 inquiries

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