Update 3: Looks like the offer has expired, if anybody finds any working links then please let me know in the comments.
Update 2: Credit card funding is back.
Update: Some people are reporting that even though they live in these states they aren’t eligible for a free membership, so I assume you have to live within a certain distance of a branch.
Offer at a glance
- Maximum bonus amount: $100
- Availability: Nationwide
- Direct deposit required: Yes, no minimum
- Additional requirements: 5 signatured base debit card purchases
- Hard/soft pull: Soft
- Credit card funding: Up to $1,500
- Monthly fees: None
- Early account termination fee: Unknown
- Expiration date: Not listed, but limited time offer
- Join Chartway Federal Credit Union, set up a new checking bonus and receive a $100 bonus, broken down as follows:
- Activate your Visa debit card, make 5 signature transactions within 60 days and receive $50
- Set up for a direct deposit within 60 days and receive $50
The Fine Print
- Receive up to $100 per eligible member only.
- This offer may not be combined with any other new member offers at the time of account opening
- A $15 minimum is required to open checking account, and a $5 minimum is required to maintain savings account.
- To qualify for $100 bonus, must become a new member, activate Visa Debit Card, make five (5) signature transactions, and establish new direct deposit within 60 days of account opening.
- Bonus will be awarded within 90 days of account opening.
- Existing checking accounts and direct deposits do not qualify.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Becoming A Member
If you live, work or worship in Florida, Georgia, Rhode Island, Texas, and Virginia you can join for free. If you live in Utah, Nevada, and Arizona you can get this bonus through SouthWest Community CU (promo link here). If you live in Utah you can complete this bonus through HeritageWest (promo link here). Update: Some people are reporting that even though they live in these states they aren’t eligible for a free membership, so I assume you have to live within a certain distance of a branch.
Anybody can become a member by making a one time donation to the We Promise Foundation. To do this follow these steps:
- Click join now/open now
- Become a member
- You will then be given the option to donate $10 to the We Promise Foundation.
Best Value Checking $0 Monthly Fee
Your best option for avoiding monthly fees is to go after the Best Value Checking account which has no monthly fee and does not require any minimums to keep it fee free.
Early Account Termination Fee
I wasn’t able to find an up to date fee schedule, so I’m not sure if an EATF is charged. In the past it was required to keep the account open for 180 days or you would forfeit the bonus but that is not included in the fine print of this offer. Shouldn’t be a big issue since you can keep the account open for free anyway.
I usually aim for bonuses that are $100+, if you live outside one of the free areas you’d need to pay $10 to join, so I wouldn’t really recommend this bonus unless you live in one of the areas where opening the account is free now that they don’t allow credit card funding.
I’m going to add this bonus to our list of the best bank bonuses currently available, although it’s probably dead last on the last now that there is no more credit card funding. It’s always nice to see more nationwide bonuses, even if it does require a donation. One thing worth keeping in mind is that they did offer a $150 bonus, but this was last offered in November of 2014 so I think it’s unlikely to return at this stage.
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
- 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