[NY] Hudson Valley Credit Union $500 Checking Bonus, Direct Deposit Not Required

Update 6/12/25: Deal is back through 8/22/25 at this new link (ht reader RT Vegas)

Offer at a glance

• Maximum bonus amount: $500
• Availability: Must live, work, worship, volunteer, attend school in one of the following counties Albany, Columbia, Greene, Rensselaer, Saratoga, Schenectady, and Sullivan Counties
• Direct deposit required: Optional
• Additional requirements: See below
• Hard/soft pull: Soft pull
• ChexSystems: Unknown
• Credit card funding: Up to $10,000
• Monthly fees: None
• Early account termination fee: $20, 90 days
• Household limit: None
• Expiration date: 12/31/2023

The Offer

Direct link to offer

• Hudson Valley Federal Credit Union is offering $400 checking bonus. Requirements are as follows:
  • Open a new HVCU Premier or Classic Checking Account with a Visa Debit Card
  • Sign up for Internet Banking & eStatements
  • Spend a minimum of $1,500 with your new Debit Card OR make $1,500 in direct deposits into your new account within the first 90 days

The Fine Print

• Terms and Conditions Applicable to $400 Bonus Checking Account Offer, valid from 10/2/2023 to 12/31/2023
• Account holder has 90 calendar days to meet the requirements to receive bonus. HVCU will deposit the $400 bonus into the account holder’s new checking account within five business days after the completion of the 90 calendar day qualification period, so long as the account holder fulfills each of the following three qualifications:
• Open a new checking account with HVCU Visa Debit Card (must be requested at time of account opening);
• Enroll in Internet Banking and/or Mobile Banking services and enroll in e-statements;
• Use your new HVCU debit card and spend a minimum of $1,500 using the new checking account OR sign up for qualifying direct deposits with a cumulative minimum of $1,500 into your new checking account. A “qualifying direct deposit” is a direct deposit of regular monthly income, such as your salary, pension, or Social Security benefits, which are made by your employer or other payer, using account and routing numbers that you provide to them. Examples of non-qualifying direct deposits and transfers include: your initial ACH deposit to open the account, teller deposits, wire transfers, debit card transfers, ATM transfers or deposits, or Internet or Mobile banking transfers or deposits. Offer subject to member verification.
• Only one bonus of $400 will be paid to the primary checking account owner. This must be your first HVCU checking account to qualify for this bonus. Only Personal Classic and Premier checking accounts are eligible for this offer. Members under the age of 18 are not eligible to receive this bonus. No exceptions will be made or considered. Account must be in good standing and the qualifications satisfied to receive bonus. Good standing means you have on deposit at least the par value of one full share ($0.01) in the regular share savings account, have no delinquent loans (payment is not more than 30 days late), and have a positive balance in all share accounts. May be subject to IRS reporting; please consult your tax advisor. HVCU expressly reserves the right to terminate this promotion at its discretion at any time and without further notice provided to you.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Classic checking account has no monthly fees to worry about.

Early Account Termination Fee

According to the fee schedule there is an early account termination fee of $20 if closed within 90 days of account opening.

Our Verdict

Not sure if the credit card funding is still available or not. Previous best was the $750 checking bonus, but that required a direct deposit. Worth doing if you live in an eligible area.

Hat tip to reader Tikky

Post History:

• Update 4/19/25: Deal is back until 5/23/2025
• Offer doesn’t start until 2/10/2025
• Update 2/8/25: Deal is back, this time valid until 5/9/25. Hat tip to reader Kevin H
• Update 10/12/24: Deal is back, but now for $500. Valid until 12/4/24. Hat tip to reader Alex

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• PSA: Don’t Call The Bank
• Introduction To ChexSystems
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