[Expired] ConnexUs Credit Union $250 Checking Bonus – Direct Deposit Not Required

As predicted this deal has ended early, view the best current checking bonuses by clicking here

Update: All recent datapoints are now saying it’s a soft pull to open. I suspect this will be an exceptionally popular offer so I’d recommend signing up sooner rather than later as I suspect the bonus will be pulled before February 17th, 2020.

Offer at a glance

  • Maximum bonus amount: $250
  • Availability: Anybody can join by joining the Connexus Association and paying a $5 one time donation. If you live in select counties in MN, NH, OH, WI then you can join for free
  • Direct deposit required: No
  • Additional requirements: See below
  • Hard/soft pull: All recent datapoints say soft pull
  • ChexSystems: Unknown
  • Credit card funding: None
  • Monthly fees: None
  • Early account termination fee: None
  • Household limit: None
  • Expiration date: February 17th, 2020

The Offer

Direct link to offer

  • Connexus Credit Union is offering a bonus of $250 when you open a new Xtraordinary checking account and complete the following requirements:
    • Use promo code FREECHECKING
    • Enroll in eStatements
    • Have a minimum of $2,000 in net spend purchases using your debit card within six months of account opening

The Fine Print

  • Offer valid for new Connexus Credit Union Xtraordinary Checking Accounts opened between 12/31/2019 and 2/17/2020 with promotion code FREECHECKING.
  • Credit Union membership required.
  • Offer not valid for Connexus Credit Union members with any checking account currently open with Connexus Credit Union or that was closed on or after 1/2/2020.
  • To earn the $250, you are required to open a new Xtraordinary Checking Account, subscribe to eStatements, and have a minimum of $2,000 in net spend purchases using your debit card within the first six months of account open date.
  • ATM transactions not included.
  • If qualified, $250 will be deposited into your new Connexus checking account six months after account open date.
  • Qualifying accounts become ineligible if the account is closed prior to receipt of the $250 deposit.
  • $250 subject to income tax reporting.
  • Offer limited to one redemption per membership.
  • Offer subject to change or termination.
  • 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. There is a $5 inactivity fee

Early Account Termination Fee

I wasn’t able to find an early account termination fee in the fee schedule

Our Verdict

Update: Now that all reports are a soft pull this is definitely worth doing and will be extremely popular.

Shame about the hard pull, otherwise this would be a must do. That being said I think more and more people are caring less about hard pulls with how restrictive credit card bonuses are becoming, so this might still be an attractive option for some people. The other downside is the $2,000 in debit card spend required, if you put that on a 2% card you’d earn $40 tax free. I’ll still add this to the best checking bonuses.

Hat tip to reader John C

Useful posts regarding bank bonuses:
    William Charles
  • On January 11, 2020, 23:25

View Comments (1032)

  • Was anyone else denied after submitting requested documentation (social security card and address verification document) to the application portal? I was not given a reason, so I requested an explanation for the denial and am waiting on a response.

      • I received a letter in the mail stating the following.

        Principal Reason for Account Denial:
        Unable to verify identity

        It also says they pull your information from TransUnion, but I do not have my TransUnion frozen.

        The only thing that has changed about my personal information in the past 4 years since my last account with them is that I had to renew my driver's license, so it now has a different issued and expiration date, but that's it. Oh well.

  • After completing all app and hitting submit I get the following: "We encountered a problem and cannot process your application at this time.
    Error: E-004"
    Tried different browsers, no luck

  • Applied as current member, no previous checking only Savings. Pending review, will contact within 3 days. The promo code needs to be applied at the END of application after funding, on the review page. No Credit Card funding. Plaid link with another bank, check or wire.

  • Their fee schedule lists a $5 monthly inactivity fee if there has been no activity for 90 days and the account balance is under $100.

  • If I close my 4 year old checking account this year, maybe I'll be eligible for their next bonus in 2028.

  • This offer popped up when I logged in today @will

    "Get $150 with Xtraordinary Checking

    For a limited time, open a high-yield Xtraordinary Checking account with Connexus and get $150* when you make qualifying purchases within the first five months.

    Plus, you can earn up to 1.75% APY* on balances up to $25,000 and get access to 54,000+ fee-free ATMs.

    Don’t miss this extraordinary offer! Apply for Xtraordinary Checking today using promo code FREECHECKING.

    *Offer limited to existing Connexus Credit Union members, age 18 or over, who open an Xtraordinary Checking Account between 2/1/2021 and 6/30/2021. Offer is not valid to Connexus members with any type of checking account currently open at Connexus or those with a checking account that was closed after 1/31/2020. Offer limited to one $150 bonus per member. In addition to a Member Share Savings Account, members must have an existing deposit account or loan with Connexus Credit Union. Offer subject to change or termination. To earn the $150 bonus you must apply promo code FREECHECKING at the time of application, enroll to receive e-statements, and make 60 qualifying debit card purchases totaling a minimum of $2,000 within the first five months of account opening. Qualifying debit card purchases include in-person and online net point-of-sale merchant purchases; examples include grocery, gasoline, shopping, and dining. Non-qualifying transactions include money order purchases, ATM transactions and peer-to-peer fund transfers (such as transfers via PayPal, Venmo, Apple Cash). The $150 bonus is subject to income tax reporting and will be credited to qualifying Xtraordinary Checking Account balances on 12/15/2021. To receive the bonus, the Xtraordinary Checking Account must be open at the time the bonus is credited.

    *Annual Percentage Yield (APY) accurate as of 2/1/2021. To earn the applicable dividend rate and Annual Percentage Yield (APY), subscription to e-statements and either a minimum of fifteen (15) debit card purchases or $400 in net spend purchases using your debit card are required. ATM transactions not included. You must meet the preceding account requirements to earn dividends. No minimum balance requirements to earn dividends. Dividends are compounded and paid monthly. Fees may reduce earnings. Rates subject to change. If your account balance is $25,000 or less, a dividend rate of 1.738% will be paid on your account balance; resulting in an APY of 1.75% for the dividend period. A dividend rate of 0.25% will be paid only on the portion of your account balance that is greater than $25,000; resulting in a prospective APY ranging from 1.00% to 1.75%, depending on the balance in your account during the dividend period."

  • Confirming comment 1132704, that Connexus is sending paper 1099s. (I can log in to closed acct, but no content inside, so no electronic 1099, only paper). So DC requirement did not lead to no 1099 in this case (as has happened with some DC requiring bank bonuses in the past).

  • I went ahead and closed my account via secure message, it was very easy. They're mailing me a check for $5.03.

  • DP: Can close via SM.

    Had one pending debit to zero the account last night, so I figured it would clear next day. Sent SM that night requesting the account be closed and check mailed. I have a standard message I use, no future transactions expected, and included contact info/address. If/when they ask why, I say I am consolidating my finances and found I did not need the account.

    Response the next day, the check will be mailed to my address. Account already no longer in online banking. So, I guess remember to save your e-statements if you want them, as they are no longer accessible. At least they didn't shut down online banking so you can actually read the message like some places do. @guest_1037358

    • @guest_872805 What is your speculation on a 1099 for this bonus? The terms say yes, but I have found credit union bonuses with a debit spend requirement usually exclude this and only count interest.

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