[CA] Provident Credit Union In Branch $475 Business Checking Bonus

Update 6/28/25: Bonus now $475

Update 6/7/25: Deal is back. Hat tip to reader RM

Update 4/7/20: Bonus has been increased to $300. Hat tip to reader EW

Offer at a glance

  • Maximum bonus amount: $300
  • Availability: CA only, must open in branch
  • Direct deposit required: Yes, although online Bill Pay is included
  • Additional requirements: See below
  • Hard/soft pull: Soft
  • Credit card funding: Up to $1,000
  • Monthly fees: None, but there is a $10 joining fee
  • Early account termination fee: None
  • Expiration date: None listed

The Offer

Direct link to offer

  • Receive a sign up bonus of $475 when you open a new Dividend Business Checking Account with Provident Credit Union and complete the following requirements:
    • File account opening paperwork with the promotional code 9982
    • Add at least $2,500 in deposits within 60 days of account opening
    • Make purchases of $300 or more using a Provident Business debit card per month
    • Enroll in online banking and e-Documents with valid email address

 

The Fine Print

  • You must be a new business member, 18 or older and reside in California
  • You are not eligible if you are a current owner on a Provident Credit Union business account or if you have been an owner on a Provident Credit Union business account within the last six months
  • One New Business Account Bonus per business. To be eligible, you must open a Dividend Business Checking Account
  • In order to qualify for your New Business Account Bonus your account must be active and in good standing for two consecutive months following the month that your Dividend Business Checking account is opened
  • All qualifying purchases and transactions referred to as “per month” or “monthly” only count towards the requirement of the month in which they POST, which will be on a business day (Monday – Friday) and may take one or more business days from the purchase/transaction date
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

No Monthly Fee

The dividend business checking does not have any monthly fee to worry about.

Membership Enrollment $10

If you enroll with provident then you must pay a $10 membership enrollment fee. Although apparently it’s possible to get this waived if you apply online.

Early Account Termination Fee $0

None of the provident checking accounts come with an early account termination fee.

Our Verdict

I’m reposting because this account no longer has any monthly fee to worry about (previously it required a deposit of $15,000). Because of that change it’s now definitely worth doing (thanks to reader Lrdx for pointing this out) I’m going to add this to our list of the best business checking bonuses.

Useful posts regarding bank bonuses:
    William Charles
  • On June 28, 2025, 13:00

View Comments (95)

  • Membership qualifications for businesses are significantly more restrictive than those for individuals. According to a senior banker I spoke with, businesses must qualify based on having a location in the footprint. Unlike individuals, businesses cannot qualify based on associational membership or based on doing business ("working") in the footprint. Businesses also cannot qualify based on the fact that their owners or shareholders work in the footprint. This is most directly relevant to businesses located in LA County but not within the City of Los Angeles.

  • For those in two-player mode, the Provident referral bonus terms are unusual in that, unlike most other banks on ReferLive, Provident does not seem to require that the referrer be a current customer (or ever become a customer). https://providentcu.org/become-a-member/referral-program

    So, theoretically, P1 can refer P2, and P2 can refer P1, before either one opens an account. This sort of pre-application cross-referral has worked for some other banks, but, obviously, this is risky, so YMMV. https://www.doctorofcredit.com/mt-bank-150-checking-bonus-tn-available-online-ct-dc-de-md-nj-ny-pa-va-wv/#comment-1929216

  • LIve in California, but not near a Provident branch. Did a virtual appt. Banker missed the appt time. I called them, they did the appt over the phone with me, asking for lots of documentation, Docusigns, super long questionnaires. At the minute 50 mark, we're trying to fund it - which they have to do over the phone and with a debit/credit card. Their system wouldn't take a debit or credit card. I gave up. Horrible waste of time. Skip unless you live down the street from a branch lol

    • I second this. Been on the phone with them 6 times now and my account is still not open, after I provided everything requested. I'm giving up. Thank goodness I don't actually need the account... not sure how they are in business.

    • @guest_2090405 Were they unable to simply open the account and have you fund it a few days later by ACH push?

      • I asked, and the rep said no, which was surprising/kinda nuts. (And FWIW the rep seemed competent... she was getting exasperated/impatient with the process too)

        • For my personal account with provident this sounds familiar. The process was a ridiculous mess.

        • @guest_2092351 Thank you for this DP. I am in the same boat. Qualify for membership, but 5+ hours from the nearest branch. Was going to do a virtual appointment, but am now reluctant.

          Did the rep say that this had happened before, or was this a one-time issue and you were just the unlucky winner on that day?

    • Yeah, dude this place is all sorts of chaotic and disorganized and dysfunctional. My wife and I both got denied due to Chex sensitivity and for some odd reason I think we dodged a bullet. It's hard to walk away from $950 for such simple steps, but....

  • Interesting. This site took down all my other comments on my experience with Provident?

  • I heard Provident CU is chex sensitive. Anyone who recently got approval can share your chex #? I am 1/12 and 6/24. What is my chance to get approved? Thanks.

      • Thanks @guest_2082228 . So, we have better chance to get approval in the branch. I am curious if they are more interested in the chex pulls within the last 12 months or if they care all within the last 24 months.

        • I have yet to see a valid risk-based argument for why Chex inquiries alone are a disqualifying factor at all anyway. If you have zero negative history, what business is it of Provident's where else I bank? Maybe I've got $5,000,000 and move my money all over the place to not risk FDIC.

  • Is DD required? It is mentioned as required on the top of the post, but no where else? If DD required, any DPs on what works as DD (Paypal etc.)?

    TIA

  • On their business account checklists:
    Sole Proprietor -- Documentation required:  Business License (or similar permit/certificate)
    That's weird in CA.

    A simple google search returns:
    "In California, you don't have to take special steps to register your business with the California Secretary of State if you operate as a sole proprietorship. You're simply a sole proprietor once you begin doing business – and earning business income. California doesn't require a statewide business operating license."

    • you do not need a license or FBNS if you do business as your surname. So, John Doe dba Doe Gardening requires nothing.

  • @guest_2074311 I wanted to highlight the following two potential gotchas in the terms and conditions for this bonus that may constitute hidden anti-churner provisions (https://providentcu.org/business/checking/dividend-checking/bonus).

    (1) If you do nothing more with the account between completion of the stated bonus requirements within 90 days, and the bonus payment due date at 120 days, they may deny you the bonus. ("If your account remains inactive after 90 days from account opening you are no longer eligible for the New Business Account Bonus."). In other words, one must continue to use the account until the bonus posts by making debit purchases, moving money around etc.

    (2) It may be necessary, as an extra requirement, to make deposits to the account every 30 days through day 90 in addition to the $2,500 deposit requirement for the regular bonus and the $500 DD requirement for the referral bonus. ("In order to qualify for your New Business Account Bonus your account must be active and in good standing for two consecutive months following the month that your Dividend Business Checking account is opened. ... ...Your account is in good standing if you: (1) demonstrate responsible account management—such as making regular deposits to bring your account to a positive end of day balance at least once every 30 days ...").

    I don't know whether this CU is being intentionally evil or whether this is simply bad drafting -- but I am leaning towards the former. Anyway, thought I would bring this up.

    CC'ing @guest_1129112, our resident expert, to see whether he has any thoughts.

    • Update: Checking old DPs on the consumer bonus, it seems like similar language has been in those T&Cs for many years and nobody has ever mentioned it as a gotcha, so (hopefully) this is just sloppy drafting — but it could theoretically be used against people who let their account sit apart from meeting the minimum requirements.

      • Yeah, I wouldn't worry about it too much. Many banks/CUs use the phrase "in good standing" but never define it. This one just went above and beyond and gave examples.

Leave a Comment