Posted by William Charles on October 5, 2019
Bank Account Bonuses

Published on October 5th, 2019 | by William Charles

17

[OR, WA only] Columbia Credit Union $250 Checking Bonus

Offer at a glance

  • Maximum bonus amount: $250
  • Availability: Must Live or work in Washington State or the Oregon community of Clackamas, Marion, Multnomah or Washington Counties [Branch locator]
  • Direct deposit required:  Yes, $500+
  • Additional requirements: eStatements and 15 debit card purchases
  • Hard/soft pull: SoftNow a report of a hard pull. Seems to be soft in branch and hard online.
  • ChexSystems: Unknown
  • Credit card funding: Fund up to $2,500 with a credit card
  • Monthly fees: None
  • Early account termination fee: None listed
  • Household limit: None listed
  • Expiration date: October 31st, 2019

The Offer

Direct link to offer

  • Columbia Credit Union is offering a bonus of $250 when you open a new income checking account when you meet the following requirements by November 30th, 2019:
    • Enroll in e-statements
    • Have a direct deposit of at least $500
    • Make at least 15 purchases between your Income Checking debit card and Columbia CU credit card
  • If you meet these requirements you’ll also earn 2.5% APY on the account on balances up to $25,000

The Fine Print

  • $250 account opening bonus.
  • Open a Columbia Credit Union Income Checking account from October 1 – 31, 2019.
  • To be eligible for cash bonus, this must be your first Columbia CU consumer checking account and you must meet all Income Checking monthly requirements listed above by November 30, 2019. 1099-INT will be issued to the IRS as interest paid.
  • If requirements are met, $250 bonus will be deposited into your Income Checking account prior to December 31, 2019.
  • 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 to worry about

Early Account Termination Fee

I wasn’t able to find an early account termination fee in the fee schedule.

Our Verdict

Probably only worth doing in branch, due to the online hard pull. But if you open in branch you won’t be able to do the credit card funding I don’t think, so that’s worth keeping in mind. I’ll be adding this to our list of the best checking bonuses though as it’s a relatively big bonus and not that difficult to meet the requirements.

Useful posts regarding bank bonuses:



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Ping Zhang
Ping Zhang

“Make at least 15 purchases between your Income Checking debit card and Columbia CU credit card”

You need a credit card from them too?

YoniPDX

No, but you can need to make 15 transactions and it includes those made with CCU CC transactions (if you have the CC)

Tom Lim
Tom Lim

“(3) make at least 15 purchases using ANY combination of your Income Checking debit card(s) and Columbia CU credit card(s)”

Also note: The Signature CashPlus CC has an increased sign up bonus of $250 [$3000 MSR] which could help soften the HP with the online checking app.

blank check
blank check

Notice to everyone.. I had a problem with this bank last year. Opened in branch.. account was opened.. received debit card.. set-up online banking.. the whole deal..

A week later, I get a call from the branch manager telling me she’s closing my account with no reason given. Never had this happen before with any bank.. where everything is up and running and I get a call telling me they are closing it with no explanation. Extremely disappointing experience, especially as I spent 1.5 hours to go open it.. and waited in line.. the branch was extremely understaffed.. and answered many questions while opening it.. and even upfront told them honestly in part that I was motivated to open it for the bonus. Guess they don’t appreciate a little friendly chat and honesty. Very disappointing experience with Colombia Bank.. hope you will fare better.

Young
Young

Was it Columbia bank or Columbia Credit Union? They are different and this bonus is from Columbia CU.

blank check
blank check

Dang! You’re right man! I messed up. My experience was with Colombia BANK. I had never heard of the credit union before until today, so my mind associated the two. Thanks!

SMan
SMan

Washington and Oregon states have both Columbia Bank and Columbia Credit Union. They are separate entities (I know it is very confusing).

BlissfulApathy
BlissfulApathy

It’s not that confusing. You can tell the difference because one is a bank and another is a credit union. Pretty straightforward.

gmoney
gmoney

Just applied. Max CC funding is only $500 not $2,500. App went pending. This is for P2, and when I applied several years ago, it was a hard pull. So far no hard pull but I would guess they do this manually since the app said it will be reviewed.

wrangler1980
wrangler1980

gmoney Please update when you find out. I would would like to go for it, but can’t do any hard pulls right now.

blank check
blank check

I’d be curious to hear whether it gets approved or not.. and whether it ends up being a hard pull.

I’m thinking to apply online since I’m overseas for the next few months and couldn’t get back in time.

gmoney
gmoney

Approved. Hardpull via Equifax. $500 CC funding via Citi Double Cash successful.

Babelus
Babelus

Do you remember if they accept Amex for funding?

reventon04
reventon04

Just received their official email. They are definitely pull ChexSystem and are sensitive. Got declined for this reason.

“There is a security freeze showing on your Check Systems Report and we are unable to proceed until it is removed.

If you wish to move forward with your account application, please remove the security freeze and reply to this email within five business days.

Thank you for choosing Columbia Credit Union. I look forward to hearing from you soon.

Columbia Credit Union”

BlissfulApathy
BlissfulApathy

lol you didn’t get declined…your chex is frozen so they can’t check it.

Dan
Dan

I went in person to a branch in Portland and they required a hard pull. They said they were mostly interested in making sure I didn’t have any delinquencies. Was approved w three other hard inquiries on my report.

I could see myself keeping this account. ATM reimbursements up to 25$/month, no minimum balance, no maintenance fees.

tikachu
tikachu

$500 CIP funded as purchase.

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