Deal has ended, view more bank account bonuses by clicking here.
Update 7/26/20: Confirmed soft pull, can be funded with a credit card and also soft pull.
Offer at a glance
- Maximum bonus amount: $100
- Availability: All branches are in IA [Branch locations]
- Direct deposit required: Yes, no minimum listed but might need to be $100+
- Additional requirements: Open with $50+
- Hard/soft pull: Soft pull
- ChexSystems: Unknown
- Credit card funding: Can fund up to $2,500 with a credit card
- Monthly fees: None
- Early account termination fee: $15, 6 months
- Household limit: One
- Expiration date: December 31, 2020
Contents
The Offer
- Collins Community Credit Union is offering a bonus of $100 when you open a new Advantage Checking account and complete the following requirements:
- Open with at least $50
- Start a direct deposit within 60 days of account opening (needs to be at least $100 according to this)
The Fine Print
- $100 Bonus: Member with any existing Collins Community CU checking account not eligible for the $100 bonus.
- Offer available at any Collins Community CU location.
- Must meet membership eligibility requirements.
- Limit one $100.00 bonus per household.
- To qualify for your $100.00 bonus, you must open and fund a Collins Community CU checking account with an initial deposit of $50.00 and start direct deposit within 60 days of opening the account.
- The $100.00 bonus will be deposited into your new Collins Community CU account within 60 days of your first direct deposit.
- The bonus is reported as interest on your Collins Community CU checking for IRS reporting purposes.
- Offer may not be combined with any other checking account offers.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Account has no monthly fees
Early Account Termination Fee
$15 if closed within six months
Our Verdict
Seems like it’s worth doing with a decent amount of credit card funding and can be opened online. Will add this to our list of the best bank account bonuses.
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?
- 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
- Bank Bonus Posting Times
View Comments (23)
@will good until 12/31/2020
Spoke with live chat today about why I haven't received my $100 deposit after having an allotment deposit of $15 on 08/21/2020. They advised I did not meet the requirement because according to promotions/bonuses department the deposit must total more than $100 (this is nowhere in the terms and conditions!). So please, shut this bank up before you attempt to do this and submit an allotment/deposit higher than $100. Now I'm awaiting for a call from the manager of the promotions department to further discuss this and hope they'll at least give me a 30+ day extension since my 60 days have already passed.
TL:DR - A silent $100 deposit is required for bonus payout.
- Live Chat Agent "I checked with the deposit team. The direct deposits have to equal $100 before the credit is provided."
@will
Let me add
Anyone know if Household limit is enforced? Will try at some point later in the fall if no DPs.
P2 opened account a while after P1 and received bonus. I'm guessing they enforce.
Real DD posted on 8/7, bonus posted on 8/27 ("Descriptive Deposit Checking Promo").
Success! Legit work DD on 7/30, bonus posted on 8/19 (listed as "Descriptive Deposit Checking Promo"). Nice that it took only one DD to trigger it so I now can re-route that somewhere else.
@will Looks like ETF is $15 if closed before 6 months. Fee schedule: https://www.collinscu.org/rates/fees
Can anyone confirm if this can be opened out of state ?
You have to live/work in IA or have family members who are existing members. They ask you for that on the application.
Any member can refer me? email me: menwa_id@yahoo.com
Thank you
+1
Also any DPs re Chex pull/sensitivity and CC funding would be appreciated. Opportunities to fund with Amex are rare so this could be an interesting offer.
I opened six other bank account prior to this in 2020 (and more in 2019) and was approved so I wouldn't say they are overly sensitive.
No hard pull and terms for the bonus listed on the credit union website don't say anything about it needing to be opened in branch. I also confirm what Levin says about $2,500 of CC funding, which is a nice perk.
I sent a message to memberservices@collinscu.org and they indicated that opening the account online will work for the bonus. Trying it out now
Can also confirm, funded with $2500 and coded as sale.
Apparently forgot to mention the card, also used 1.5% cashback freedom unlimited.
It also allow credit card funding: Visa, MasterCard, Discover, American Express (up to $2,500 on this application)
Are you a resident of one of the eligible counties/cities listed on their website? I’m looking to sign up for the credit card funding and I’m not in their footprint.
@will I used Chase Freedom Unlimited, and it just posted the deposit amount ($2001) as purchase
I like the new look of the site... But now it's slow AF. Please fix @will
Working on it. Are you on mobile?
Yes I'm on mobile