Published on July 7th, 2018 | by William Charles19
[Expired] [FL only] Power Financial Credit Union $100 Checking Bonus – No Direct Deposit Required
Deal has expired, view the best current checking bonuses by clicking here.
Bonus is back for 2018. Seems to be a hard pull so unlikely to be worth doing. Hat tip to Finding My Possible.
Offer at a glance
- Maximum bonus amount: $250, $100 without loan
- Availability: Membership is open to all residents of Monroe, Miami Dade, Broward, Palm Beach, Martin, Sarasota, Manatee, Hillsborough and Pinellas Counties; as well as, friends and family of current members. All are in FL.
- Direct deposit required: Optional
- Additional requirements: Direct deposit or initial deposit of $500+
- Hard/soft pull: Reports of hard & soft pull, looks to be a hard pull
- ChexSystems: Yes
- Credit card funding: Unknown
- Monthly fees:
- Early account termination fee: 90 days, bonus forfeit
- Household limit:
- Expiration date:
December 31st, 2017December 31st, 2018
- Power Financial Credit Union are offering a sign up bonus of up to $250, bonuses are as follows:
- Open a checking or savings account and receive $100 when you open with an initial deposit of $500 or receive a direct deposit of $500+
- Open a check account AND a consumer loan with membership and receive $150
- Open a checking account, consumer loan AND a Certificate of Deposit with membership and receive $200
- Open a checking account, consumer loan, Certificate of Deposit AND a mortgage with membership and receive $250
The Fine Print
- Promotion ends December 31, 2018.
- Prizes will be awarded upon account meeting qualification criteria.
- New accounts require opening a checking account with direct deposit or a minimum initial deposit of $500. Checking account must remain open for 90 days.
- Membership required; $5 membership deposit. Membership is open to all residents of Monroe, Miami Dade, Broward, Palm Beach, Martin, Sarasota, Manatee, Hillsborough and Pinellas Counties; as well as, friends and family of current members.
- Must be 18 or older. Rest
- Minimum Loan Amount of $2,500. Offer not valid on share secured nor CD secured loans.
- Minimum deposit amount is $10,000. Term of CD must be 12 months or longer.
- Minimum loan amount of $100,000.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
As the $100 bonus includes savings accounts you should be able to just open the club saving account and this has no monthly fees. You do need to keep the account open for 90 days to avoid any early account termination fee.
They have offered a similar bonus in the past and my verdict is still the same. If there is no hard pull, this is a great deal. I wouldn’t bother with the bigger bonuses that require a loan, but $100 with no monthly fees or any bonus requirements is still a great deal. If anybody does decide to sign up, please share your experiences in the comments below. Because it looks to be a hard pull I’d just avoid this all together.
Big thanks to reader, Curmudgeon who let us know. Learn how to find bonuses and contribute to the site here.
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
- 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?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications