[Expired] [MA only] IC Federal Credit Union $250 Checking Bonus

Deal has ended, view more bank account bonuses by clicking here.

Update 2/17/19: Deal is back, now requires you to meet all of the requirements for the 2.59% APY rate for the bonus. Previously you only needed to maintain a balance of $1,500 f0r 90 days. Hat tip to reader Matt K

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: Yes
• 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

The Offer

Direct link to offer

• IC Federal Credit Union is offering a bonus of $250 when you open a new intelligent checking account online and complete the following requirements for each of the first three statement cycles:
  • • 12 debit card purchases
    • e-statements
    • direct deposit or one ACH transaction per statement cycle
• Account also earns 2.59% APY on balances up to $15,000 when you meet the above requirements

The Fine Print

• Open a new personal Intelligent Checking account online and receive a $250 bonus1 when the following criteria is met, during each of the first three (3) full statement cycles: complete 12 debit card purchases, have direct deposit or one (1) ACH transaction per statement cycle, and receive e-statements.
• This offer is available for new accounts only and we may 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 other offers.
• You must be 18 years or older to open an online account.
• This is a one-time bonus offer, per person, only.
• If qualifying criteria is met, the bonus will be credited to your account within 10 days after the third full statement cycle.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

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.

Our Verdict

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 worth doing.

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?
• 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