Update 11/13/23: The deal will actually be a 6% APY 8 month CD starting on 11/20 and ending 11/30. Direct Link The $100/$100 referral bonus slated to be around through 12/31/23.
Contents
The Offer
Direct Link to offer | New link
- Securityplus Federal Credit Union is offering an 11-month CD with a rate of 6.00% APY. Max $50,000 balance. You can open an account by calling the credit union at 410-281-6200.
- They also offer a 23-month CD with a rate of 4.85% APY.
- There’s also a
$50$100 (for each) Amazon gift card bonus for referring a friend. Feel free to leave your referral link in the comments below. - The credit union also allows $2,000 in credit card funding on the account.
You can join Securityplus FCU by being a member of ACC which costs $8 or $15 for lifetime (if you aren’t already a member).
Our Verdict
The top rates on CDs are currently around 5%, and this is a nice bump at 6%. Still, there’s a $50k limit here and a bit more hassle with the call-in and join fee, so I’m sure a lot of people will give this one a miss. If you can get $50 Amazon gift card for joining that sweetens the pot.
Offer History:
- Update 11/9/23: Deal is back and referral bonus has been increased from $50 to $100. Keep in mind this is for new money only.
I got the $100 bonus, but only after filing a complaint against them. This was after they declined to pay me and didn’t give a reason.
Note that their terms also contain new verbiage that they may try to use to not pay you (section 5). It might have to do w self-referrals, but after my experience w them trying to not pay me, I wouldn’t put anything past them.
Their TOS only appears to apply to the referrer and not the referred. 🤷♀️
The dd requirement has also changed (section 2). So, make sure that you read the terms on the page after you click the referral link. TOS also says that you SHOULD set up dd using their site. Don’t know if it’s required, though.
I don’t believe that the $100 referral links work anymore. I clicked some and they now show $50.
Rewards. By making a valid referral, you will receive a $50 Amazon or Visa gift card and your Friend will receive a $50 Amazon gift card via your email sixty days after the Friend completes the requirements for a qualifying referral as set forth in these Terms and Conditions. You can earn a maximum of $500 in gift card rewards per calendar year. Rewards are subject to verification. After verification, it’s important to note that the Program Qualifying Vendor, Extole, employs a risk scoring process through MaxMind to assess referrals. Should a referral not meet the required standard in this risk scoring, it will lead to disqualification from earning a reward. Securityplus may delay a reward for the purposes of investigation and the Company’s decision on any investigation is final and in its sole discretion.
Yea, they updated all referral links to $50 last month: https://www.doctorofcredit.com/securityplus-fcu-6-00-apy-11-month-cd-max-50000-plus-50-referral-bonus/#comment-1809418
I checked the referral program again because of your post and realized that they have made two major changes to the requirements for the referee: (1) needs to set up a qualifying direct deposit of $200+ within 60 days as you pointed out, which was not needed before; (2) the windows of maintaining their account in good standing has also been extended to 60 days; it was only 30 days before; as a result, it would also take longer to receive the reward.
The risk scoring part is a bit concerning because that is a black box we have no information about.
What is the previous version of requirement? $50 deposit and maintain that in account for 30 days?
opens a checking account online which requires a $50.00 minimum deposit at account opening; and maintains the checking account in good standing for 30 days.
https://share.securityplusfcu.org/Cameron
Opened the account on 03/30/24 and was instantly approved. Funded with Wyndham Earner Plus for $1950 which coded as purchase.
If you sign up using this referral link we will both get a $50 Amazon Gift Card reward- https://share.securityplusfcu.org/alamtanjebul
did you lower your cash advance to the lowest before funding?
Talam
No I did not as I was pretty sure my cash advance limit is lower than 1500
Didn’t get the $100 Amazon GC automatically after waiting the time period in the terms so I sent a secure message within online banking. They surprisingly responded quickly within a few days and I received the reward.
I just did the same. Good service.
For existing members, can we add another savings account and do more credit card funding?
Yes, you can, but most DPs said they would do a Chex hit on every new account.
Roy
That’s good to know. Thanks!
https://share.securityplusfcu.org/dfranasiak
Used!
Anyone use an Amex to fund?
I have tried but failed on Amex, even though it’s funding page includes Amex…
My referral link: https://share.securityplusfcu.org/shawn.bank.us
1. Eligibility: nationwide, with ACC option in the application if you are OOS.
2. Chex: they did pull my Chex the day I applied in late December. It took them almost a month to approve my application, and my Chex was frozen at the time of approval.
3. CC Funding: $2K per application. I opened membership savings and checking in one application. As expected, the $2K authorizing charge dropped initially as it took them a long time to process my application. Balance showed up as available the next day after account approval, and the CC charge showed up 2 more days later.
4. Member Number: your member number (as well as account number) can be found in the Signature Agreement you will need to Docusign. You can also retrieve them in the Application Status Center (Docs->Membership Enrollment)
5. Documents: I uploaded a utility bill as secondary ID per their request during the application, which can be seen in the Application Status Center. I was asked to upload my primary ID in the approval email. I attached it via SM in my online account (Subject: Application Status) because the Application Status Center did not allow uploading new docs.
6. E-statement: enrollment may not work in your online account (Accounts->eDocuments–>Subscription Settings). It kept reverting back to paper statement the next day for me. I had to SM them to be ensured I am enrolled in e-statement only and it is confirmed to be true even though the online setting still shows paper statement.
7. Reward: I received it in about 30 days after account approval.
I funded $1500 with my USBank credit card and saw the authorization in pending status at first. After a few days my securityplus account got opened, but the authorization disappeared from USBank’s portal and my account still hasn’t received any funds. Did you have to reach out to securityplus to re-authorize the transaction?
No, I did not do anything. You can give it a few more days, sometimes it may take a little bit longer, especially if they process it on a Friday.
So does that mean 2k funding for the checking and another 2k for the savings?
A total of $2k CC funding allowed per application, not per account. You can open another account later to do another $2k CC funding, but it will most likely result in another Chex pull.
ss1050
They sent me a link to create online account (and the docusign) immediately, but my accounts aren’t showing up in my online log in. Maybe they have to manually add them during business hours. Super weird.
This isn’t Chase or WF… patience…
Indeed…The fact hat I have account numbers seem like a good sign. 🙂 Though I do have distant memory of FirstBank giving me account numbers and then retroactively disapproving it.
This is not unusual. Some banks take one business day to refresh their system. My guess is they do a batch processing at the end of each day.
The accounts appeared early AM this morning, but they haven’t been funded – I suspect the funding will show up early next week or end of day.
If you are not in Baltimore, how to qualify for an account? ANy workarounds?
It’s available NATIONWIDE because Securityplus FCU accepts members of the American Consumer Council (ACC) as eligible for credit union membership. There is a $50 referral program as well.
Vijaya The main post is lacking information.
Thank you!
https://share.securityplusfcu.org/Dennis6
Used your referral