Update 7/11/26: Deal is back but this time for $100 instead of $250. Can be opened online now instead of in branch though. Hat tip to reader dealgamer
Offer at a glance
- Maximum bonus amount: $250
- Availability: You’re eligible for Membership if you: Live, work, worship or attend school in one of these CT counties (Fairfield, Litchfield or New Haven) Are an employee of one of our Select Employer Group companies (see below for list) Have a family member who is already a Member of MSCU
- Direct deposit required: Yes, no minimum mentioned
- Additional requirements: Maintain an average daily balance of $5,000+ for 3 months
- Hard/soft pull: Soft pull
- ChexSystems: Unknown
- Credit card funding: None
- Monthly fees: $2-6
- Early account termination fee: None listed
- Household limit: None listed
- Expiration date: November 17th, 2019
Contents
The Offer
- Mutual Security Credit Union is offering a bonus of $250 when you open a new checking account and complete the following requirements:
- Establish a direct deposit (no minimum mentioned)
- Make $100 in total deposits
The Fine Print
- Offer only applicable to new memberships opened at MSCU Norwalk with checking accounts.
- Not valid for existing account holders. $250 will be deposited into the checking account after ninety (90) days of establishing direct deposit and maintaining an average monthly balance of $5,000
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Essential has a $2 monthly fee, this is waived if your a minor of 65+. Elevated has a $6 monthly fee, this is waived with Daily average balance in checking of $2,500 or aggregate balance of $20,000 in deposit accounts at the end of the month.
Early Account Termination Fee
I wasn’t able to find any mention of an early account termination fee in the fee schedule
Our Verdict
Has the potential to be a good bonus worth doing, but we need to know if it’s a soft or hard pull to open. As it requires opening in branch it should be possible to ask before opening the account. If anybody goes for this deal then please share your experiences in the comments below.
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
