[Nassau County, Suffolk Country, NY] Island Federal Credit Union $400 Checking Bonus

Offer at a glance

• Maximum bonus amount: $400
• Availability: Anyone who lives, works, worships or attends school in Nassau County or Suffolk Country with the exception of the townships of East Hampton, Southampton or Shelter Island are eligible to join Island.
• Direct deposit required: Yes, two recurring deposits that total $1,000+
• Additional requirements: See below
• Hard/soft pull: Unknown
• ChexSystems: Unknown
• Credit card funding: Unknown
• Monthly fees: None
• Early account termination fee:
• Household limit:
• Expiration date: June 30, 2025

The Offer

Direct link to offer

• Island Federal Credit Union is offering a $400 bonus when you open a new Cash Back Checking
  • Use promo code 400
  • Get $200 when you set up direct deposit (minimum of two (2) recurring electronic deposits totaling no less than $1,000 USD in a 90 day period)
  • Get $200 when you
    • make 10 debit card purchases of $5+
    • enroll in eStatements
    • keep $500 in account

The Fine Print

• All offers subject to credit approval. To receive Reward Points, Member must have an Island Checking Account, Debit Mastercard and enroll in the uChoose Rewards Program at www.uChooseRewards.com. Points will be awarded for purchases at the beginning of each month.
• Open to individuals who have not had an Island Federal Checking account in the past 12 months
• . Eligibility criteria must be fulfilled within the first 120 days of Membership or individual forfeits incentive.
• To qualify a Direct Deposit must include a minimum of two (2) recurring electronic deposits totaling no less than $1,000 USD in a 90 day period.
• Perform at least 10 Debit transactions of $5.00 USD or greater per transaction (excludes ATM transactions.
• Transactions involving peer-to-peer (P2P) services such as Venmo, Pay Pal, Zelle and other P2P services are ineligible).
• Maintain a combined checking account/savings account average month end balance of $500 USD or greater for the first 90 days from account opening.
• If Member successfully completes requirements, Island Federal will deposit the bonus in Member’s savings account in the month following the 120-day period.
• Not available to fiduciary accounts or those accounts that have been closed within 90 days or closed with a negative balance.
• Bonus will be reported on IRS form 1099-INT. Offer valid 05-01-2025 to 6-30-2025; subject to change without notice.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Early Account Termination Fee

I wasn’t able to find any EATF in the fee schedule.

Our Verdict

Not available in many areas unfortunately, looks good apart from that.

Hat tip to Yum

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