[Expired][PA Only] Clearview Credit Union $400 Checking Bonus + $100 Savings Bonus

Don’t see any new end date?

Update 11/2/20: Extended until December 31, 2020.

Update 7/19/20: Extended until October 31, 2020

Offer at a glance

• Maximum bonus amount: $500
• Availability: Membership is open to individuals who live, work, volunteer, worship, attend school or have immediate family in Southwestern Pennsylvania which includes Allegheny, Armstrong, Beaver, Butler, Fayette, Greene, Indiana, Lawrence, Washington and Westmoreland Counties
• Direct deposit required: Yes, $500+
• Additional requirements: eStatements and promo code
• Hard/soft pull: Soft
• ChexSystems: Yes
• Credit card funding: Up to $500, Visa or Mastercard only
• Monthly fees: $10, avoidable
• Early account termination fee: $10, 90 days
• Household limit: None listed
• Expiration date: May 31st, 2020 July 18th August 31st, 2020 December 31, 2020

The Offer

Direct link to offer

• Clearview Federal Credit Union is offering a bonus of up to $500. You must use the promo code SWITCH
  • Open an absolute checking account and make a recurring direct deposit of $500 or more within the first 60 days, sign up for eStatements and receive a $300 bonus (can get a smaller bonus of $200 by opening a simple checking account)
  • Open one of the above checking accounts and open a savings account money market account, OR a certificate with a 12 month or greater term within 7 business days of checking account opening, deposit $15,000 in new money and maintain that balance for 90 days and receive a $100 bonus 
  • Get a further $100 bonus on the anniversary date of your checking account opening, as long as a recurring electronic deposit of at least $500 or more is made

The Fine Print

• To receive the $200 bonus: Open a Basic or Simple checking account, make a recurring deposit of $500 or more within the first 60 days of account opening, and sign up for eStatements. You’ll receive your bonus once the criteria are met.
• B). To receive the $300 bonus: Open an Absolute Checking® account, make a recurring deposit of $500 or more within the first 60 days of account opening, and sign up for eStatements.You’ll receive your bonus once the criteria are met.
• C). To receive the additional $100 bonus: Open one of the above checking accounts AND open a Clearview Savings OR Money Market OR a Certificate with a 12 month or greater term within 7 business days of checking account opening, and deposit a total of $15,000 or more in new money. Must maintain a $15,000 average daily balance for 90 days.
• You’ll receive your bonus after the 90 day period is over.
• D). Get an automatic additional $100 bonus on the anniversary date of your checking account opening, as long as you maintain a recurring electronic deposit of at least $500 or more.
• The bonus(es) will be reported to the IRS for tax purposes. Use promo code: switch
• Offer is only valid for new members age 18 and older with a savings account and Basic, Simple, or Absolute Checking account.
• This offer is available online. You may take advantage of this offer at a financial center by appointment only.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Absolute Checking

The absolute checking account has a $10 monthly fee. This is waived if you do one of the following

• Maintain a $10,000 combined balance among all your Clearview deposits (savings, checking, IRAs and certificates)
• a $20,000 combined balance of your deposits and loans or
• deposit $5,000 or more in total direct deposits during the month

Simple Checking

This account has a $3 monthly fee. This is waived with $500 in monthly direct deposits or five monthly transactions

Early Account Termination Fee

There is an early account termination fee of $10 if the account is closed within 90 days

Our Verdict

Money market account earns 0.85%. If you deposit the $15,000 required into the savings account for 90 days this works out to be an additional ~2.7% for a total of 3.55%. Not bad, but not fantastic either. For most people it’ll make sense to just focus on the $400 in checking bonuses that are available. The main issue is keeping the absolute checking account fee free, especially when you need to keep the account open for the full year to get the bonus. It might make sense to just do the simple checking account for a smaller bonus or forgetting about the anniversary bonus entirely. Previously Clearview has offered a $200 bonus. I’ll be adding this to our list of the best checking account bonuses.

Hat tip to reader JL

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

Post history:

• Update 7/19/20: Extended until August 31st, 2020.