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Offer at a glance
- Maximum bonus amount: $100
- Availability: MN only
- Direct deposit required: None
- Additional requirements: None
- Hard/soft pull: Hard
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: $5.95, avoidable
- Early account termination fee: Six months, bonus forfeit
- Household limit: None listed
- Expiration date: June 29th, 2019
Contents
The Offer
- Sharepoint Credit Union is offering a bonus of $100 when you open a new Premier Rate checking account. Account also earns 5% APY on balances up to $5,000 for the first two years. There are no requirements for the bonus or 5% APY rate
The Fine Print
- Funds will be deposited into qualified member’s Checking or Savings account at account opening.
- SharePoint reserves the right to reclaim funds if the account is closed within six months.
- All accounts subject to approval.
- Member is responsible for any related taxes or restrictions according to MN laws. Cannot be combined with other offers.
- Promotion is limited to (1) $100 incentive per member, with no prior checking relationship in the last six months. Restrictions apply. Offer ends 6/29/2019.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Account comes with a $5.95 monthly fee, this is waived if you have 10 or more point of sale transactions
Early Account Termination Fee
Bonus is forfeit if the account is closed within six months
Our Verdict
Update: Hard pull to open so not worth it for most people.
Seems like a good bonus if it’s a soft pull to open. It’s also nice to have an account that earns 5% APY, although you will need to complete 10 point of sale transactions to keep it fee free so not technically no requirements. Although meeting debit card requirements is relatively easy (ideas on how to do that here).
Hat tip to readers Jason H and John
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
Looks like at the two year mark they paid the last of the promo rate interest mid month and now back to normal rates for me. I’ll probably close the esavings that requires a dd (for no additional benefit that I can see) and keep the other ones for a while.
FYI this is back and bonus is $150 now. Still a hardpull but might be worth it to some. https://www.sharepointcu.com/tools-and-resources/promotions/checking-150
Wonder if it’s still a hard pull if you have an existing savings account (never a checking account).
I was approved, im lmao/24
@MikeTheCreator @Emporio Any advice on eligibility, or are you in MN?
If you have a good credit score you should have no problem getting approved, im located in mn and have a credit score of 730-760.
Hello Mike, do you happen to remember if there is any credit card funding for this credit union and if they take Amex funding?
ACH online or print a voucher and bring in to branch for cash/check deposit were the options presented to me.
Can you open more than one account?
I can confirm it’s a hard pull to join the credit union. I have a 3% APY (up to $10K) savings account with them. The savings account is a nice compliment to this checking account. If you factor in the $100 checking bonus and max out both the savings ($10K) and checking ($5K) then you’d earn a first year effective 4.3% APY on $15K.
There’s also an additional $25 bonus if you are referred for this checking account and complete 1 direct deposit. If you’d like a referral send me an email at: [email protected].
if I open both checking and saving, would there be 2 hard pulls?
No, I opened the 5% checking, base savings (required), and the 3% savings and it seems to be coming through as a single Equifax pull.
I was surprised and disappointed to learn that SharePoint Credit Union performs a hard pull on your Experian file for each new account you open with them regardless if you are already a member of the credit union. I’ve never encountered another bank which performs a hard pull on existing members just to open a checking account. Also they pull Chex systems but are not inquiry sensitive.
The $100 bonus posted 1 day after account opening.
I reached out to them back in August when they we’re running a similar promo and they told me hard pull.