Posted by William Charles on May 18, 2019
Bank Account Bonuses

Published on May 18th, 2019 | by William Charles

15

[Morris County, NJ only] Picatinny Credit Union $175 Checking Bonus

Update 5/18/19: Deal has been increased to $175

Offer at a glance

  • Maximum bonus amount: $150
  • Availability: live, work, worship or attend school in Morris County, New Jersey
  • Direct deposit required: No minimum specified, just says full pay
  • Additional requirements: Use promo code EVENT$150
  • Hard/soft pull: Soft pull
  • ChexSystems: Yes, not sensitive
  • Credit card funding: Unknown 
  • Monthly fees: None
  • Early account termination fee: Bonus forfeit if closed within 6 months
  • Household limit: None listed
  • Expiration date: May 31st, 2019

The Offer

Direct link to offer

  • Open a new free checking account  receive a sign up bonus of $175 from Picatinny Credit Union when you complete the following requirements
    • You must use the promo code MD$175
    • Initiate a repeating direct deposit of your full pay, social security or pension into your account within 60 days of account opening

 

The Fine Print

  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
  • Checking account must remain open for 6 months or bonus will be forfeit

Avoiding Fees

This account does not have any monthly fees, they do require you to keep it open for six months to avoid any early account termination fee though.

Our Verdict

Might be worth doing if you live in the area due to the fact it’s a soft pull to open the account, but that will really depend if you’ve done all the better bonuses that are available already. For now we have added our best bonus list, but towards the very bottom. Share your experiences with this bank and bonus in the comments below.

Hat tip to IS250

Useful posts regarding bank bonuses:



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IS250
IS250

William Charles This is live again with a new code. I emailed you the promo flyer. I opened up in branch so here are details:

Promo Code: EVENT$150
-Location: Morris County, NJ. You have the live, work, pray, or attend school here.
-DD: No minimum specified – just says full pay, social security, or pension funds
-Membership: Just have to open up a savings account with a $5 deposit (you get it back if you close the account)
-Chex: Yes; not sensitive
-Hard Pull: No
– ETF: Must keep open for 6 months for bonus
-Instant issue debit card (with options to choose design)
– Starter checks for free; otherwise have to order checks
– No expiration date for the bonus that’s listed on the flyer nor that the banker could see in the system
-No minimum balance or monthly fees for either checking or savings account
-Be sure to change to free estatement to avoid $5 monthly paper statement fee
-There is a referral program in branch. Both the referrer and referee get $75 each for opening a checking account and $25 for opening a savings account.

Phil
Phil

Does the referral bonus stack or is that presumably in place of the $150 bonus? I’d be willing to find out if anyone has a referral.

IS250
IS250

Pretty sure it stacks but don’t know for sure.

Here is the link for the referral form: https://www.picacreditunion.com/membership-benefits/refer-a-friend/

If you want to try, I can give you my information. You can email me at rahulvidya11101 at gmail dot com

Thanks.

mgldan
mgldan

How would they know if it was the full pay? I’d rather not move all my direct deposit here.

IS250
IS250

It’s not. I just did a $100 real employer DD and got the bonus. I’m assuming they just don’t want a $1 DD or something.

Mej
Mej

How long after your DD did the bonus post?

IS250
IS250

About 2 weeks.

Phil
Phil

Fairly confident that the only thing that will work to trigger the bonus is an actual Direct Deposit – I tried a $300 transfer with eTrade and no dice. One other feature of this credit union that may be worth it for some people is if you open a youth account with at least $50 they will match it $50: https://www.picacreditunion.com/membership-benefits/youth-accounts/

Mej
Mej

I tried a push from Santander ($220) and from Paypal ($300) and neither of those coded as DD or triggered bonus. Stopped trying others after that. Had a real DD on 4/26 so I’m just waiting now.

They also don’t let you do external transfers. You have to do billpay, P2P payment, or a pull from an outside account to move money.

Mej
Mej

Received bonus today (almost 4 weeks after DD). I had to SM and they responded in under an hour saying it was overlooked and deposited the $150 for immediate use.

IS250
IS250
IS250
IS250

Just to add – referral bonus ($100) does not stack with the promo. It’s one or the other.

Jeff Abrahams
Jeff Abrahams

Morris County… Anybody wanna have a meetup at Morris Tap & Grill?

Crystal
Crystal

I don’t live in Morris county. Can I still open in the branch? Is it a hard rule?

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