Update 7/18/19: Maximum on the CD has been increased to $10,000 (from $2,500).
Offer at a glance
- Maximum bonus amount: $200
- Availability: Must be a member of a Christian Ministry
- Direct deposit required: Yes, minimum $200
- Additional requirements: eStatements & $100 minimum opening deposit
- Hard/soft pull: Soft pull (one DP of hard but that looks incorrect)
- ChexSystems: Yes, might be inquiry sensitive
- Credit card funding: Can fund up to $500 for checking account and $500 for CD with a credit card
- Monthly fees: None
- Early account termination fee: Bonus forfeit if closed within six months
- Household limit: One
- Expiration date: None listed
The Offer
- Christian Community Credit Union are offering a bonus of $200 when you open your first free checking or checking plus account and complete the following requirements:
- Open with a minimum deposit of
$100$200 - Sign up for eStatements
- Receive recurring direct deposits within 60 days of account opening
- Open with a minimum deposit of
- They also offer a 3.5% APY CD ($10,000 maximum) that can be opened within 30 days of account opening. (Update 9/29/19 CD rate reduced to 3.5% from 4% APY)
The Fine Print
- To receive the $200 checking bonus: 1) Open your first free Checking or Checking Plus Account with a $100 minimum opening deposit. 2) Sign up for eStatement and recurring direct deposit within 60 days of account opening.
- The bonus cannot be used as the opening deposit.
- Direct deposit needs to be an electronic deposit of your paycheck, pension, or government benefits (such as Social Security) from your employer or the government.
- The bonus will be deposited within 60 days into your Checking Account after membership eligibility and Checking Account are approved and you have met the Direct Deposit and eStatement requirements.
- Offer is not available to existing Christian Community Credit Union members with Checking Accounts or those whose membership or Checking Accounts have been closed.
- Bonus offer available to U.S. residents.
- The bonus is considered taxable income and will be reported to the IRS on your 1099-INT form.
- If your Checking Account is closed within six months after account opening, the bonus will be deducted from the closing balance.
- Offer effective 02/21/17 and is subject to change without notice.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Eligibility
Some of you will probably be wondering how strict that ‘must be a member of a christian ministry’ requirement is. According to comments in a previous deal post, it’s very strict. They want to call your church or send a copy of tithe statement or have something from the church on an official letter head.
Avoiding Fees
Their free checking account has no monthly fees. You will forfeit the bonus if you close account within 6 months of account opening though.
Our Verdict
Also keep in mind that this CU is insured by ASI, rather than FDIC/NCUA (e.g it’s private insurance rather than government). Church requirement will kill this deal for most people, if somebody does sign up then please share your experiences in the comments below (especially the religious requirements). I’ve added this to our best bank account bonus page.
Hat tip to leaguemastergam on FWF
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- 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
