Posted by William Charles on February 17, 2019
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Published on February 17th, 2019 | by William Charles

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

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:



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Sean X
Sean X

Just opened an account, went smoothly. I live in the target area. No credit card funding. Minimum 5.00 to open, the only funding method supplied was to link to another bank’s account, trial deposits posted in 2-3 days. Terms and conditions do specify “New Account Early Closeout Fee $10.00,” but don’t say what “early” means. They also specify a 5.00 monthly “Dormant Account Fee,” but don’t define what that means.
Thank you as always, DoC!

Chris
Chris

Hard or soft pull?

brandon
brandon

hard or soft pull? generally its a hard pull to join CU?

Kevin
Kevin

I called in asking and they said it would not be a hard pull. I’ll be applying today.

Sa
Sa

Thank you DoC and thank you Matt (@millionmilematt).

mangoceviche
mangoceviche

doesnt answer when fees are assessed but here’s the full fee schedule (last one on the list for personal account fees)
https://www.iccreditunion.org/about-us/disclosures

Pavel
Pavel

For citizens only.
“Unfortunately, we cannot complete your application because you are not a U.S. citizen.”

Sa
Sa

Anyone opened this successfully?
I am still waiting for their test deposits in order to verify them and finalize the opening.

Brian K
Brian K

Anyone else having trouble finding the “complete application” link? The link in the e-mail after applying just brings me to a general page. I can’t find the complete application button anywhere.

BTW, I don’t think it’s a hard pull. I applied yesterday and the two trial deposits came this morning to my capital one account.

Sa
Sa

Yes. No link to complete application. I also do not see their test deposits in the account I am funding from. Do they show for you?

Brian k
Brian k

Yes I got the two deposits the say day I opened the account. And figured it out. Click the link they email you and then its the “small deposit login” button.

Michael
Michael

I opened an account online on 7/12 but never received two test deposits. I called the CU yesterday and was told that my application was incomplete which is odd because I did receive a confirmation number at the end of my application. They told me to try again so I did just that last night and two test deposits showed up in my Ally checking account this morning. I followed the link they provided in the email with “Your new IC Federal Credit Union Account” subject line shortly after my second application and verified those two deposits. I was given my account number right away so I was able to enroll the online banking. Everything appears to be in order now!

Michael
Michael

The link to verify two small deposits is:

https://www.iccreditunion.org/Personal/OAC_TESTTRAN

Jesse
Jesse

I applied for this on 7/9/18. I was beginning to worry when the test deposits didn’t arrive and then I received a letter on 7/13/18 (postmarked 7/10/18) stating that I had been denied due to the report on me by ChexSystems.

Beverly
Beverly

Are you able to share what your Chex looks like?

JuicyJosh
JuicyJosh

Applied from out of state. Used legit address and given message for not in service area. Applied again with legit address but changed state to MA. Completed application to end and awaiting test deposits. However, received letter today in mail denied for chex. 43+ opened / 18 months. Looks like you can beat the state restrictions on this app.

louie
louie

Opened account 7/15/18
ACH pushed $1,500 from Santander checking
Bonus posted today 10/17/18

Thanks Doc!

Si
Si

DP on early termination fee. Account needs to be open 6 months

Bonus received on 3 month anniversary of account opening

Matt K

Looks like this one is back again.

https://www.iccreditunion.org/rewarding-you

Mark
Mark

I am in the target area and was able to open an account. No hard pull and, at least in my case, did not seem to be Chex Systems sensitive.

I am LOL/24 in Chex Systems.

Chris C
Chris C

Applied and approved after the deposits were confirmed. No HP.

Gerald prosciutto
Gerald prosciutto

Appears to be somewhat chex sensitive

Mike
Mike

Has anyone else had trouble getting their debit card in the mail? Mine was originally ordered on 2/20 when I opened my account, and when I didn’t get it 2 weeks later they canceled the original and ordered a new one. That was on 3/13 and I still haven’t received it. I’ve been at the same address for 7 years and I have never had an issue getting mail from any other bank.

Closest branch is about a half hour away, but I’m considering taking a drive there this weekend so I can just get a card printed…

Jon
Jon

They were supposed to send me a debit card, but ” The card was not sent due to an address discrepancy”. By the time the card did get delivered (after I noticed 2 weeks went by like you mentioned above), my statement had already closed and now I’m out of the bonus. Pretty frustrating.

Mike
Mike

You should send them a secure message or give them a call. I let them know my debit card didn’t arrive the first time, and they said they would take that into account and look at the first 3 statements that had debit activity.

Dan
Dan

Send them a secure message explaining this. I was in same boat and they messaged me back saying they would reset my bonus eligibility.

Dan
Dan

I didn’t get my debit card until a MONTH after I opened the account – AFTER the first statement period had already closed. On the statement was a message saying I had failed to meet the bonus requirements (the 12 debit purchases per statement period specifically). When I complained via secure message that I still hadn’t rcvd the debit card and thererore of course didn’t meet the bonus req. to use it 12 times, they wrote me back saying it would be mailed in a couple days and that they would reset the bonus eligibility so I could try again. I got the card now it’s off to the races. Good luck, hope this helps.

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