Update 10/31/23: Extended until November 30, 2023
Update 8/3/23: Extended until October 31, 2023.
Update 7/30/23: Extended until 9/30.
Offer at a glance
- Maximum bonus amount:Â $250
- Availability: If you are a volunteer for, an employee, student or alumni of, or a retiree from a public school system, private school, college or university, education related organization or an immediate family member of thereof, you can become a member of the Support Education Foundation. Foundation membership is established by making a minimum contribution of $15 each year. As a member, you’re eligible to open an account with Educational Systems Federal Credit Union
- Direct deposit required:Â Yes, $700+
- Additional requirements:Â eStatements
- Hard/soft pull:Â Mixed DP
- ChexSystems: No
- Credit card funding: Up to $100
- Monthly fees:Â $10, avoidable
- Early account termination fee:$10 if closed within 6 months
- Household limit:Â None listed
- Expiration date:Â July 31, 2023
Contents
The Offer
- Educational Systems Federal Credit Union is offering a $250 bonus when you open a new checking account and complete the following requirements:
- Sign up for eStatements
- A direct deposit of at least $700+ per pay period
The Fine Print
- To qualify for the $250 bonus dividend, a new Checking account must be opened between June 15 and July 31, 2023 with eStatements and a minimum Direct Deposit of at least $700 per pay period from payroll, retirement income sources or social security that posts to the account by October 31, 2023.
- The $250 Bonus Dividend will be posted to the member’s savings account within 10 business days after the qualifying Direct Deposit posts and validation of eStatement enrollment.
- May be reported as taxable income.
- This promotion cannot be combined with other offers.
- Offer subject to change without notice.
- Membership eligibility required.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
There is a $10 monthly fee on the dividend checking account. This is waived with a $500 minimum balance.
Early Account Termination Fee
$10 if closed within 6 months
Our Verdict
Looks like anybody can join by becoming a member for $15. Obviously need to know more about the account opening process, but if everything works out and it’s a soft pull then this does look to be an easy nationwide bonus.
Hat tip to ShawntheShawn
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- 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
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- 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?
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