Offer at a glance
- Maximum bonus amount:
- Availability: Must live, work, worship, own a business, or go to school in Multnomah, Washington, or Clackamas county, or are a relative of a current member (current member can’t refer you if they are same household)
- Direct deposit required: Yes, no minimum specified but must be entire paycheck
- Additional requirements: See below
- Hard/soft pull: Hard pull
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: None
- Household limit: None listed
- Expiration date: None listed
Contents
The Offer
- Consolidated Community Credit Union is offering a referral bonus of $400 for the new user and $100 for the referring member. Person being referred/opening account needs to complete the following requirements within 30 days and then meet requirements for six months:
- Enroll in eStatements
- Have a payroll, social security, or pension direct deposit each month
- At least one log-ina minimum of 10 debit transactions each month to the CCCU online banking system each month
The Fine Print
- For new account to be considered active, the account must be enrolled in eStatements, must have a payroll, social security, or pension direct deposit each month, at least one log-in to the CCCU online banking system each month, a minimum of 10 debit transactions each month (ATM transactions do not count toward the debit card requirements), and account cannot be overdrawn at any time.
- The 10 debit transactions must be posted to the account prior to the last business day of each month regardless of when the transaction was conducted.
- Must set up direct deposit and enroll in eStatements and Online Banking within 30 days of account opening.
- After initial 30 days, all active checking requirements must be met for six (6) consecutive months prior to CCCU paying any incentives.
- The “referrer” (Existing Member) incentive is only available to existing Members of CCCU who have accounts in good standing. The “referee” (New Member) incentive is available to new Members only. A “New Member” is defined as a person who has never been an owner or signer of a checking or savings account or loan with CCCU. “Referee” cannot be a member of the same household as the “referrer”. CCCU employees, their friends and family members are not eligible. Must be 18 years or older to participate.
- The incentive amount of $100 for the “referrer” (Existing Member) and $400 for the “referee” (New Member) is subject to change. Referring members can earn up to a maximum of $500 in referral bonuses per calendar year. Incentives will be paid within 14 business days of meeting active checking requirements for six (6) consecutive months. Six months start 30 days after account creation date.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
This account has no monthly fees
Early Account Termination Fee
I wasn’t able to find any mention of any early account termination fee in the fee schedule.
Our Verdict
Feel free to share your referrals in the comments below. Previously this was only $100. Obviously requirements are difficult but for $400 and potential to refer others (nobody in your household) it’s worth it to some. Shame about the hard pull.
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?
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- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
