Bonus no longer available, view the best current checking bonuses by clicking here.
Update 8/15/20: Looks like this program will be ending 8/21 according to a customer service rep. Previously we have listed this as MA/NH only but it works nationwide if you join ACC first. There are a number of datapoints of claw backs for the people doing the referring, so keep that risk in mind. Best if you get somebody you know to refer you if possible.
Update 7/16/20: Looks like anybody can sign up by joining the ACC first. I’ll keep MA/NH in the title so there isn’t too many applications at once.
Offer at a glance
- Maximum bonus amount: $100
- Availability: MA, NH only. It’s actually available nationwide if you join the ACC (free to join) first
- Direct deposit required: Yes, $500+ within 60 days
- Additional requirements: Use referral
- Hard/soft pull: Soft pull
- ChexSystems: Unknown
- Credit card funding: Can fund up to $249 with a credit card
- Monthly fees: None
- Early account termination fee: None listed
- Household limit: None
- Expiration date: December 31st, 2020
Contents
The Offer
- Service credit union is offering a bonus of $100 to both parties when a new member is referred and the following requirements are completed:
- Open a new dividend or everyday checking account
- Have direct deposits totaling at least $500 into the account within 60 days of opening
The Fine Print
- In order to qualify for the $100 referral promotion, referrer must have a Service Credit Union checking account.
- Referred friend (referee) must be a member of Service Credit Union or eligible for membership with at least $5 in a primary savings account, must open a checking account with Service Credit Union, and must have direct deposit totaling at least $500 into the new checking account within 60 days of opening.
- Referee must qualify for Service Credit Union membership in order to open the account.
- Once all criteria are met, $100 will be deposited to the referrer’s checking account and the referee’s checking account.
- There is no limit to the number of referrals members may make.
- If the total of gifts received equals $600 or more in a taxable year, the credit union will issue referring member a 1099-MISC. The credit union will issue on behalf of the referee a 1099-INT for the $100 as income.
- Promotion runs from 06/22/2020 to 12/31/2020 and is subject to change or be canceled at any time.
Avoiding Fees
Monthly Fees
The everyday checking account has no monthly fees to worry about.
Early Account Termination Fee
I wasn’t able to find any early account termination fee in the fee schedule.
Our Verdict
They have offered a similar deal last year, but no direct deposit was required. This credit union also has a 3% APY account with no requirements on balances up to $3,000 and the share savings account offers 5% APY on balances up to $500. I will add this to the best bank bonuses because of those high APY accounts. Feel free to share your referrals in the comments below.
Hat tip to Chase-ing UR points
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
Thanks
Did the money from the Holiday Savings move to the Checking for any of your accounts? I’ve been checking every week or so and it’s stayed in the Holiday Savings. I’m not complaining but I’m just wondering why it hasn’t moved over like I was told it would.
Nope. It never moved for me either.
No movement, but I wasn’t expecting any. There is nothing I see in the Truth in Savings or account agreement about them moving funds automatically. Seems like they would want to make that well known or very obvious if that was going to happen because otherwise, people’s first instinct would not be a good one. I know what I would think.
The only thing I see is on this page: https://servicecu.org/bank/savings-accounts/holiday-club/
they say there you can set up automatic transfers.
Suprised the rate hasn’t dropped, knock on wood.
My last statement was Oct 31st and states: ANNUAL PERCENTAGE YIELD EARNED 3.0173% FOR THE PERIOD 10/01/20 THROUGH 10/31/20 Their webpage says it should be 3%. Guess they rounded.
More concerning to me, why didn’t I get a November statement when they had been issuing monthly statements? Lack of transactions, I assume? No… interest was credited Nov 30th, so there should have been something on the November statement.
Edit: Just checked P1 & P2 and no November statement yet. I am sure everyone already knew this because we all check our e-statements promptly. /s
Yes, that is pretty odd. Hopefully the December statement will have double the interest.
Correct.
I did not read it that way. When he wrote “No… interest was credited Nov 30th” I took that literally. Now I see what he meant was “Interest was credited on November 30th but there was no November statement” but he wrote it in an awkward way.
I also am confused why not receiving a statement would be very concerning. I would be much more concerned if there was no interest.
Anyway, thanks for clarifying. I just checked and I did receive the dividend in November.
I am concerned because a statement should not be nearly a month late. We (the customer) are responsible to know what that statement says, and can’t do that if they do not provide it.
I wrote it as I was researching… because I thought maybe it was just because I am not using the account, but if there was a transaction… ie interest… there goes that excuse.
You could always send them a SM if you are concerned. I’m not going to worry until they stop paying me interest.
Yeah, true. Banks/CU’s want everyone to switch to e-statements to save them money, but I believe most people become complacent, myself included.
I just sent them a message about it. I imagine it’s because no other activity was done other than interest, no statement was generated.
Not really how that should work IMO, because sometimes that is where they put notes about upcoming changes, like interest rates.
I was wondering the same thing.
Their referral is still active with $75 instead of $100. Email bankbonuschaser@gmail.com for the link.
7/30 – account opened with $249 on WF that coded as purchase, joined ACC
8/15 – real dd
8/21 – bonus posted.
Referral Code: P2K0415614016
The old referral codes are no longer being used, but a nice DP.
Yeah, they are now using Royal Referral Center… which is the horrible crappy service that UMB uses.
So, basically, the CU was unable to effectively manage $100 referrals, so RRC is taking a $50 cut ($25 on each side).
Wow that’s a good business for RRC!
Well, I assume that’s their cut, based on the old referral payout amounts. Not like I work there. But yeah, seems like it should be.
I pushed $510 from Ally and it counted as a DD. I also got the bonus within hours of the transfer… they also have 5% on $500 for their savings account. I was going to shut them down but I’ll keep the $500 in savings in there. I wish all banks/credit unions paid out this fast!! AK
Someone used my referral link, I appreciate that very much!
Did anyone try closing their current checking account, waiting, and then reopening to see if the bonus would work?
Service CU has a new $100 checking bonus below. There is no referral offer this time. It only requires 10 debit card purchases.
https://servicecu.org/newintown/
Terms don’t exclude current or past customers. So, who is going to be the guinea pig to see if current members can just add another checking account and get the bonus? I know it won’t be
ieatdogfood.
I started to fill out the application but not feeling it. The offer is probably intended for “new in town” members.
I will try it! Do you think I should close the current account first?
I can’t say. I would think I would close the current checking, wait at least a day, and then open another checking. But don’t close the savings as that makes you a member, which is what took so long to get approved.
“Cannot be combined with any other checking offers.” I think I will wait with this language in the terms.
Plenty of room for debate there. You are not combining an offer if you aren’t doing another offer.
True. I put in an application. What’s the worst that could happen?
Ummm, worst? The fraud prevention weenies decide you’re a risk and close your accounts/membership and hold your funds hostage for 1-2 months until they verify no other debits exist, then mail you a check.
Realistically, just another Chex hit.
I’m ok with that 🙂
My account from the previous bonus is still open, but I went ahead and applied for this anyways to see what happens. I put “0920NEWMOVER” in the spot for a promo code, which is found in the hyperlink on the “Open Now” button. I don’t know if it is necessary or not if you use that link.
“Your recent online application has been canceled, as our records indicate you already have a checking account and Service Credit Union does not offer dual checking accounts to our members.”
OK, so, my suggested plan of closing the existing checking, waiting a day, and then trying to open a new checking is still a possibility.
I might give that a go this week.
Did you choose the dividend acct for the new acct or select the everyday?
I chose the everyday account. Are you willing to test the dividend account route to see if “dual checking accounts” is only for two of the same type?
Just got the same email as you. I have the everyday and did apply for the dividend. So no difference on their end it would seem. From comments on the other SCU page looks like they are not planning on honoring this promotion nationwide or for current/past customers anyways.
Yeah, I have a feeling the terms on the webpage will be getting updated shortly. They should know better…
Poke the bear (bank).
Gosh darnit. Submitted my post before completing.
What I was going to say is that I wish it was an instant approval process with instant number and not manual.
Hi all,
I opened an account a week or two before the deadline but I had to go back and forth with them around submitting documentation as well as getting approved for the pay 2 know program took weeks. My referral bonus was supposedly honored but I’ve been having issues getting it to trigger. I’ve submitted a $501 check deposit into my everyday checking which registered as a Direct deposit. I also pushed from Discover and Ally bank which coded as payroll. I was reassured that I was enrolled in the pay 2 know program referral. The check deposit processed on the 20th and the bonus seems to trigger at midnight or the next day… Anyone have any other ideas of what I can do? I
What you should do is put a real DD in there, wait 2 business days, and then contact them. But it’s up to you if you are going to contact them. It’s frowned upon, but whatever, they know their system is broke, and if you don’t ask, you are never going to get the bonus. I would give it another day or two, though.
Thanks all! I got $1900 referral bonus totally. Surprisingly, one $100 was still deposited yesterday~
Gadget made 10k so boohoo
Fake news.
Wow