Deal has ended, view more account bank bonuses by clicking here.
Update 6/24/20: Deal is back and valid until July 15th, 2020. Hat tip to Econ0mist
Offer at a glance
- Maximum bonus amount: $300
- Availability: All branches are in VA
- Direct deposit required: Yes, at least three direct deposits of $500+ each
- Additional requirements: See below
- Hard/soft pull: Soft pull
- ChexSystems: Unknown
- Credit card funding: Up to $520
- Monthly fees: None
- Early account termination fee: None
- Household limit: None listed
- Expiration date:
December 31st, 2019July 15th, 2020
- Northwest Federal Credit Union is offering a bonus of $300 when you open a new checking account in branch and complete the following requirements:
- Use promo code OL2020 (keep in mind this offer is in branch only, so I assume you just tell the banker that promo code)
- Make a minimum of three direct deposits into the checking account with a minimum of $500 per direct deposit
- Sign up for eStatements
- Login to online banking a least once
The Fine Print
- Limited time offer available 6/15/2020 – 7/15/2020.
- To earn a $300 deposit into your checking account during the first 90 days after opening your first ever checking account with Northwest Federal you must: be 18 years of age or older, be in good standing, make a minimum of three direct deposits into the checking account with a minimum of $500 each deposit, sign up for eStatements and login to Online Banking at least once each month.
- Once all requirements are met and your checking account has been open for 90 days, you will receive your deposit within 45 days. Cannot be combined with other offers.
- Account must be opened online, by phone, or at the One Loudoun branch to qualify. Use promo code OL2020.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Choice checking has no monthly fees to worry about.
Early Account Termination Fee
There is no mention of an early account termination fee in the fee schedule.
Nice big bonus, now that we know it’s a soft pull to open the account we will be adding this to our list of the best checking bonuses. If anybody goes for this bonus, share your experiences in the comments below.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
- Update 2: No longer in branch only, might be available to people outside of VA & MD but YMMV.
- Update 11/9/19: Bonus is back and valid until December 31st, 2019
- Update 10/20/18: Reposting as it’s confirmed to be a soft pull.