Posted by William Charles on March 9, 2019
Bank Account Bonuses

Published on March 9th, 2019 | by William Charles

17

[Salt Lake County, Utah] University Federal Credit Union $300 Checking Bonus

Update 3/9/19: Reposting as it’s confirmed as a soft pull

Offer at a glance

  • Maximum bonus amount: $300 + $100 for auto loan
  • Availability: Must work, live, go to school, worship or volunteer in Salt Lake County, Utah
  • Direct deposit required: Yes, no minimum specified
  • Additional requirements: 15 debit card transactions per month for 3 months
  • Hard/soft pull: Soft pull
  • ChexSystems: Unknown
  • Credit card funding: Unknown
  • Monthly fees: None
  • Early account termination fee: Unknown
  • Household limit: None listed
  • Expiration date: None listed

The Offer

Direct link to offer

  • University Federal Credit Union is offering a bonus of up to $300 when you become a member and open a checking account and complete the following requirements:
    • Receive $50 per month for 3 months when you set up a qualifying direct deposit
    • Receive $50 per month for 3 months when you complete 15 debit or credit card transactions per month
  • You can also get an additional $100 for closing on an auto loan

The Fine Print

  • This must be a new account for the Primary SSN.
  • They cannot have any other new accounts in the last 12 months.
  • New members are to receive $150 for setting up their employer Direct Deposit; $50 per month for 3 months. 30 days after open date, they will receive the first $50.
  • This will follow for month 2 & 3.
  • $150 for 15 debit or credit card transactions per month. $50 per month for 3 months. 30 days after open date, they will receive the first $50. This will follow for month 2 & 3.
  • $100 for an auto loan refinance. $100 for Auto refinance will be deposited at funding. Minimum $10,000 loan amount.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

eChecking account has no monthly fees to worry about.

Early Account Termination Fee

I wasn’t able to find a fee schedule so I’m unsure if there is any early account termination fee.

Our Verdict

Seems like it’s a relatively good bonus if it turns out to be a soft pull, shame about the small area. If anybody has any personal experience then please share it in the comments.

Useful posts regarding bank bonuses:



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M
M

Customer service via email confirmed it’s a hard pull.

Will
Will

Girlfriend and I both applied yesterday and got emails back today.

So far, no sign of a HP. Looking good, but this would definitely not be the most delayed CK or EX has been with a notification. Even if we get the HP I find this worth it. Will reply to this comment if there ends up being a HP.

Fee sheet in docusign app states $10 early termination fee within 180 days (for savings account/membership, none listed for checking)

curtis leasure
curtis leasure

I assume you applied online?

Will
Will

yes

Will
Will

William Charles it’s been a week, definitely a soft pull only

curtis leasure
curtis leasure

So is this offer an online offer or in-branch or both? It appears as if you can apply online but I don’t see a offer code. I don’t see any minimum on the debit card charges so the 15 a month shouldn’t be too hard either.

curtis leasure
curtis leasure

Confirmed that the offer is both online and in branch

ryan t
ryan t

Applied even though I am not in the county. Said I worship there because I have been to temple square and I consider that worship. Would be willing to join Mormonism as well. Approved for account. Was told a hard pull and chex systems pull included. I have 20 new checking in 2018 but none so far in 2019. So seems they are not sensitive.

curtis leasure
curtis leasure

Be aware that they require a photo copy of your DL as part of the application process. I applied online and didn’t include it. It let me submit the application but it went to a pending status. CSR emailed me today requesting the copy and wants me to call them as well. Will update with more details as they come.

curtis leasure
curtis leasure

They basically just asked the standard compliance questions (international wires, deposit amounts expected, etc.) and approved me. Easy.

Joe
Joe

Anyone get insta-approved?

Jay
Jay

No, I had to answer a few questions over phone about expected activity of account (I had uploaded Utah DL as part of online app).

AD
AD

interesting that this site confirms SP, yet multiple comments confirm HP?

John Richard Stewart
John Richard Stewart

Social Security takes 60-90 days to change direct deposit, which is outside the limits. Any data points on other direct deposit methods?

BumblingPoints
BumblingPoints

Applied online, finished up in branch. Individual I spoke with said they do a hard pull at opening, and the report would be good for 60 days if I wanted to open a CC or line of credit. I still haven’t seen a HP appear on any of my reports yet, so add one more DP to the realm of rep saying a HP, but no HP actually appearing. It’s only been a few days – will report back if a HP ever does appear.

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