Published on July 8th, 2018 | by William Charles18
[MA only] IC Federal Credit Union $250 Checking Bonus – Direct Deposit Not Required
Offer at a glance
- Maximum bonus amount: $250
- Availability: Must be in IC’s Field of Membership (must live, work or worship in Worcester, Middlesex, Franklin, Hampden, Hampshire, or Norfolk Counties in Massachusetts)
- Direct deposit required: No
- Additional requirements: Maintain $1,500 balance for 90 days
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: None
- Monthly fees: None
- Early account termination fee: $10, unknown
- Household limit: None listed
- Expiration date: None listed
- IC Federal Credit Union is offering a bonus of $250 when you open a new intelligent checking account online and complete the following requirements:
- Maintain a balance of at least $1,500 for 90 days
- Account also earns 2.59% APY on balances up to $15,000 when you meet the following requirements:
- 12 debit card purchases
- direct deposit or one ACH transaction per statement cycle
The Fine Print
- Account Bonus Terms & Conditions: Receive a $250 bonus when you open a new Intelligent Checking account online, and maintain a balance of at least $1,500 for a qualification period of 90 days.
- After the qualification period, a credit of $250 will be made to your Intelligent Checking account within 10 days if your account is in good standing, and the balance requirement has been met.
- This offer is not available to existing Intelligent Checking Account Members and we reserve the right to decline those who have had an Intelligent Checking account within the last 12 months.
- Offer is only available to persons in IC’s Field of Membership, and cannot be combined with any other offer.
- Offer may be withdrawn at any time and is valid for online account opening only.
- You must be 18 years or older to open an online account.
- This is a one-time bonus offer, per person.
- The bonus is considered interest and therefore will be reported to the IRS on Form 1099-INT.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
This account has no monthly fees to worry about.
Early Account Termination Fee
There is a $10 early account termination fee, but they don’t define what early is.
Don’t think trying to qualify for the 2.59% rate is worth it considering other high interest accounts available. The $250 bonus will really depend if it’s a soft or hard pull, if it’s a soft pull then it will be one of the better bonuses available as it’s extremely easy to meet the bonus requirements and keep the account fee free.
Big thanks to reader, Matt 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
- 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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- 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