Posted by William Charles on January 3, 2019
Bank Account Bonuses

Published on January 3rd, 2019 | by William Charles

165

[Collin County, TX] Unify Financial Credit Union $150 Checking Bonus

Update 4/9/19: Bonus is no longer nationwide, you now must reside in Collin County, TX

Offer at a glance

The Offer

Direct link to offer (note the URL isn’t the official Unify Financial Credit Union, but when you start applying it does show that URL)

  • Unify Financial Credit Union is offering a bonus of up to $150 when you open a new checking account, bonus broken down as follows:
    • $50 deposited after first statement cycle
    • $50 after establishing a recurring ACH direct deposit of at least $500 aggregate each month (must be done within 60 days of account opening)
    • $1 per debit card transaction of $5 or more within the first 60 days ($50 maximum)

The Fine Print

  • Offer expires March 31, 2019, and is subject to change without notice.
  • Eligible new account holders who qualify for and open a new checking account (excluding Right Start Checking and Right Start Debit) will receive a $50 deposit into their checking account following the first statement cycle. Limit one $50 new checking bonus per member.
  • Receive an additional bonus of $50 by establishing a recurring ACH Direct Deposit of at least $500 aggregate each month. New Direct Deposit must be established and posted within 60 days of account opening, and bonus will be paid after the second statement cycle following account opening.Limit one Direct Deposit bonus per member.
  • Receive an additional bonus up to $50 by earning $1 bonus for each debit card transaction that exceeds $5 made with your new UNIFY Visa Debit Card within the first 60 days of account opening (maximum bonus of $50). Bonus will be credited to the checking account linked to the UNIFY Visa Debit Card after the second statement cycle following account opening. Limit one Debit Card usage bonus per member.
  • Account must be in good standing to receive any bonus.
  • Account holder responsible for all applicable taxes. Membership eligibility, and account qualification requirements apply. Membership requirements include establishing a membership share savings of at least $5.
  • Minimum deposit of $25 required to open Free Checking, and eChecking. UNIFY employees, volunteers and family members not eligible. Not valid with any other offers and subject to change at any time.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

The free checking account has no monthly fees to worry about

$1 Paper Statements

After your second month you’ll be charged $1 for paper statements, so opt in for paperless statements when signing up.

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 or not.

Our Verdict

Previous deal was for $100, but you also got two LA Rams tickets that could easily be resold for more than $50. That deal also didn’t require any debit card transactions. This bonus isn’t that bad, but the debit card transactions will be difficult for most people to meet – especially as it requires the transaction to be more than $5. Really up to you if you want to go for this deal or wait for a better deal to return. I’ll likely add this to our list of best bank bonuses, just with a disclaimer that they have recently offered a bigger bonus.

Hat tip to reader Jonathan F

Useful posts regarding bank bonuses:



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Gadget
Gadget

$1 paper statement fee starts on 2nd month. Opt into e-statements to avoid.

Dan - Legal Bank Robber
Dan - Legal Bank Robber

Open e-checking to avoid 🙂

Gadget
Gadget

Incorrect, unless you do 8 visa debit transactions. Otherwise: eChecking (monthly). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $20.00 (If an account requirement is not met).

And, you still have to opt in to estatements.

Dan - Legal Bank Robber
Dan - Legal Bank Robber

Gadget It was auto opted in on the application for e-statements. Plus I plan on doing much more than 8 a month then I will convert after I get the bonus.

Gadget
Gadget

Party on! It’s usually better to take the free account and not have to worry about downgrading later. When trying to manage 10 to 15 different accounts, it’s hard to remember all the rules.

Dan - Legal Bank Robber
Dan - Legal Bank Robber

Spreadsheets!

Gadget
Gadget

Yeah. Great for tracking. Chity for automatic reminders.

Gadget
Gadget
Mike
Mike

Thanks. Very helpful.

Dan - Legal Bank Robber
Dan - Legal Bank Robber

Very weird, denied due to Chex during there last promo. Now I was approved no problem.

Jeremy
Jeremy

I’ll signup but skip the debit card, so just a $100 bonus.

Mike
Mike

Which one to apply, echecking or free checking?

Jim
Jim

Interesting, no language about being disqualified if you had a recent bonus, such as the one with Rams tickets. Wonder if I can close my current account and reopen again in a few weeks

arch
arch

I too would like to know this. I see none of the usual verbiage about 6 months or a year

JuicyJosh
JuicyJosh

Be the DP you want to see my friend. Let us know if it works.

arch
arch

Sounds like you could take your own advice

JuicyJosh
JuicyJosh

I would but my account is still open. So here we are again…. Keep wondering I suppose.

arch
arch

Yeah, mine still open also

COBOLCODERUSEALLCAPS
COBOLCODERUSEALLCAPS

That Tyrone Biggums avatar now seems very appropriate.

MJG
MJG

I got in on the Rams tickets deal at the last minute, but may sign up my SO for this one. You can think of the last $50 as 20% off an Amazon gift card of your choosing up to $250, achieved through $5 Amazon reloads. Not a terrible deal. Or use the debit card for purchases under $20, and it’s a 5%+ cash back card.

Sasha
Sasha

Can you elaborate please? How does 20% happen? I buy $5 Amazon gift card and then reload it 49 more times with the debit card. Not understand how discount happens. TIA

Alex
Alex

$1 back on $5 is 20%. You do that 50 times, and that’s $250 in gift cards for $200, or 20% off.

Mike
Mike

Where can you find the routing number and account number?

jonflow

You can google for the routing number. I can’t figure out how to find the account number on mobile, you may have to call or email them for it.

JuicyJosh
JuicyJosh

I am guessing you were not auto approved? I was and the routing/account numbers showed immediately. When I opened for SO, her app required review. After approval you can log back into the application and you will see it there.

jonflow

Can verify for you that what is listed as the “MICR” number is the actual account number.

IS250
IS250

Any reason we couldn’t do Plastiq for the debit card purchases? Would only have to eat 1% fee per transaction (different than their credit card fee) so $5 x .01 x 50 = $2.50 total for 50 transactions. That’s not bad at all assuming this method works.

John
John

If you use amazon, I’d suggest doing reloads there instead. Fee free and you can do transactions in any increment you want.

Kyle
Kyle

I might try this. I have a ton of Plastiq credit, so I’ll probably schedule payments to my utility company.

Jeff G
Jeff G

Unless I totally missed it, is there language about how soon you can get this bonus after closing a previous account? Closed mine a few weeks ago, am I eligible for this bonus now? Seems like I should not be, but……

John
John

I think it’s worth a shot. However, the offer page does state “membership eligibility, and account qualification requirements apply”, whatever that means.

Jeff G
Jeff G

Yeah, I saw that, but could not see any other language that describes what that means. Oh well, may just wait for some braver souls to give it a shot.

rick
rick

just did the $100 bonus with the rams tickets a month ago and i closed my account last week. any chance i can take advantage of this $150 too, or likely not since i was just recently a customer?

Dan
Dan

Successfully opened a free checking account. 16th bank account opened since 04/18.

IS250
IS250

Anyway to opt out of overdraft? It was greyed out for me and couldn’t de-select.

Edit: Application under review for me. Is that what everyone gets or are people getting approved instantly?

Tony
Tony

Me too. There are 2 verification questions regarding 2 peoples used to live in my residential ( I got mail in their name all the time) that I don’t know so I answered i don’t know. I think that triggered manual review.

Tony
Tony

Well denied, state unable to verify my identity. Can i get the bonus if apply in branch?

IS250
IS250

I was approved today so maybe call them for a manual review or so? Maybe you can upload supporting documents like driver license, utility bill, etc.

Gadget
Gadget

Credit Unions often like to tie the Checking and Savings together to serve as overdraft protection. SO and I did this account 2 months ago and It didn’t result in a hard pull that some banks try to do to cover your overdrafts. It’s no a big deal to leave it enabled, but if you really want overdraft protection “turned off”, I would call them.

IS250
IS250

Yeah for sure. Only have done one other credit union bonus so I forgot how most “overdraft” from the savings account.

Gadget
Gadget

Credit unions like to make rules that banks don’t have, like how they handle membership and account numbers. You are a shareholder and a member. They usually make you maintain a $5 , or $1, for a “share” in savings that you cannot touch. Some CU’s won’t let you ACH out of savings (NFCU), but you can ACH in. Unify, if I recall, won’t let you ACH in or out from Savings, and does not give you an external account number to use ACH – you have to transfer money in/out of savings via their website/app/tellers. Credit unions always have a member number, and a separate account number, and sometimes they assign a suffix or prefix to the account and the suffix/prefix are the only differences between multiple accounts. Another oddball, US Alliance is the first credit union that I have seen that didn’t force you maintain a share savings account.

IS250
IS250

Good to know. Thanks.

Emporio
Emporio

I was approved today for a Checking account despite having 20 Chex inquiries in the past 12 months so I wouldn’t characterize Unify as Chex sensitive.

ben
ben

What counts as a dd and what the min balance needed?

LL
LL

You can see what counts at the link near the top, I used Capone 360 and it counted.

Sexy_kitten7
Sexy_kitten7

FYI: The debit bonus is technically for each transaction that exceeds $5, not $5 or above.

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