[IL or CA only] CEFCU $175 Checking Bonus – Direct Deposit Not Required

Update 9/22/20: Bonus has increased from $125 to $175.

Offer at a glance

  • Maximum bonus amount: $125
  • Availability: Must live or work in:
    • Fulton, Knox, Livingston, Logan, McLean, Macon, Marshall, Mason, Peoria, Putnam, Sangamon, Stark, Tazewell, or Woodford counties in Illinois
    • ive, work, or worship in Alameda, Contra Costa, or Santa Clara counties in California
  • Direct deposit required:  No
  • Additional requirements: See below
  • Hard/soft pull: Hard pull
  • ChexSystems: Yes
  • Credit card funding: No
  • Monthly fees: Fee free option available
  • Early account termination fee: Unknown
  • Household limit: None listed
  • Expiration date: June 30th, 2019 December 31st, 2019 June 30th, 2020 December 31st, 2020

The Offer

Direct link to offer | Direct link to offer $175 bonus

  • CEFCU is offering a bonus of $125 when you open a new checking account and complete the following requirements:
    • $150 bonus when you meet one of the following requirements:
      • have a minimum individual balance of $5,000 or minimum household balance of $10,000
      • make 5 or more purchases of at least $15 with your CEFCU Debit Mastercard linked to this new Checking account
      • have direct deposits totaling $500 or more on this Checking account or associated Savings account
    • $25 bonus when you use your CEFCU debit mastercard for 5 or more purchases of at least $15 each month for the first three full calendar months following account opening

The Fine Print

  • The bonuses are not available on transfers of existing CEFCU Checking accounts.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Their free checking account also has no monthly fees to worry about.

Early Account Termination Fee

I was unable to find a fee schedule so I’m unsure if there is any early account termination fee or not.

Our Verdict

Previous best bonus was $100. I do think this bonus is worth doing due to the fact there is no hard pull and no direct deposit. Because of that I will be adding this to our list of the best checking account bonuses.

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Jonny
Jonny

Has anyone from the past month gotten a hard pull?

L. K.
L. K.

I opened on 9/22 and got a TransUnion hard pull on 9/29.

Jun
Jun

OCT 9 2020
ACH TRANSACTION “Employer” SVCS $500

OCT 16 2020
ACH TRANSACTION “Employer” SVCS $500

Two DD posted this month and made 5 transactions. No bonus yet.

Davis
Davis

Opened on 8/12
Did $15 transactions through Venmo on 9/4, 9/5, 9/8, 9/10, 9/11
$100 bonus on 10/6

Plan on continuing the same strategy for October and November to get the extra $25

Jun
Jun

$500 DD real @ 10/2/2020. Now to wait for bonus.

Jun
Jun

To receive $175 bonus is really easy. Make 3 payments of $15 to your bill. And 1 DD of $500+ or keep $5000+ in the checking account. Boom

tom
tom

I thought you have to only do one of the three requirements: 1) 5 payments of $15, or 2) 1 DD of $500, or 3) keep $5000 in checking account.

Jun
Jun

It’s $150 for 5k or $500 dd. And $15 x 5 payments.

OST023
OST023

Fulfill ONE (or more) of the qualification criteria.
(iii) satisfy one or more of the following account requirements within the first full calendar month after account opening: (1) have a minimum individual balance of $5,000 or minimum household balance of $10,000, (2) make 5 or more purchases of at least $15 with your CEFCU Debit Mastercard linked to this new Checking account, (3) or have direct deposits totaling $500 or more on this Checking account or associated Savings account

tjk144
tjk144

When I click on the $175 offer, it says that you must reside in CA, nothing about residing in IL.

Jun
Jun

For CEFCU, do we use the account number listed under “Base Account Number – Suffix” or “ACH/Direct Deposit Format”. Both account numbers under the two are not the same. The first 2 digits and last digit. I’m confused as this is far more confusing to setup direct deposit.

Jun
Jun

Just signed up for the bonus, took like 15 minutes.. asked for closest relative personal info including address.. weird. account funding $100 each savings/checking. I accidentally selected savings for funding but used checking # / routing. lol

L. K.
L. K.

Checking bonus is now for $150, with the same bonus requirements. William Charles https://www.cefcu.com/promos/specialpricing

L. K.
L. K.

Membership fee is $1. Savings account closure fee is $5 if closed within 6 months of opening. https://www.cefcu.com/accountopening/disclosure/Fee_Schedule_08-20-2020_16-10-31.pdf

Jun
Jun

Wasn’t charged a fee.

L. K.
L. K.

The opening deposit minimum for the Savings account is $5, plus a one time fee of $1. Checking is $25. I was charged $31 and my total CEFCU balance is $30.

Jun
Jun

I did a $100 deposit on checking and $5 on my savings. You are right, we paid $1 fee to open the account. $106 deducted from my checking.

Kona
Kona