Offer at a glance
- Maximum bonus amount: $100 referral
- Availability:
- Membership in MPS Credit Union is open to everyone who lives, works, or worships in Miami-Dade, Broward, Palm Beach, Monroe, Martin or St. Lucie Counties.
- Membership is open to postal employees and retirees as well as Federal Government employees and their families.
- If you’re a member, all of your immediate family are also eligible to join, regardless of where they live.
- Businesses in Miami Dade and Broward County, can also join the credit union.
- Direct deposit required: Optional but $300+ per month
- Additional requirements: Open savings account and CD if not doing direct deposit
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: None
- Household limit: None listed
- Expiration date: None
Contents
The Offer
- MPS Credit Union is offering a $100 referral bonus to both parties when the person being referred opens qualifying Savings Account plus a Checking Account with direct deposit or a Share Certificate (CD)
The Fine Print
- Your referral must meet credit union membership eligibility requirements.
- Referrals must be submitted prior to account opening.
- To qualify for the $100 reward, the referred individual must open both a savings and checking account at the same time, and maintain the accounts open in active use and good standing for at least 60 days.
- This offer applies to new savings and checking accounts with a direct deposit of at least $300 per month or a share certificate.
- Funds will be deposited into the account two months after account opening.
- If account is closed prior, no incentive will be paid.
- 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
Early Account Termination Fee
I couldn’t find any EATF in the fee schedule.
Our Verdict
CDs have a $1,000 minimum and shortest is 3 months (youth is $250). The 3 month CD currently earns 2.25% APY, probably an easier optional than direct deposit for most people. Feel free to share your referral details in the comments below along with if it’s a hard/soft pull.
Hat tip to reader Kiwi
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?
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