Update 4/17/22: Deal is back and valid until 12/31/2022.
Update 1/22/22: Deal is back and extended until 03/31/2022.
Offer at a glance
- Maximum bonus amount: $200
- Availability: VA
- Direct deposit required: Yes, $250+
- Additional requirements: See below
- Hard/soft pull: Soft pull
- ChexSystems: Unknown, sensitive
- Credit card funding: Up to $500
- Monthly fees: None
- Early account termination fee: Unknown
- Household limit: None listed
- Expiration date:
12/31/202112/31/2022
Contents
The Offer
- United States Senate Federal Credit Union is offering a bonus of $200 when you become a member of USSFCU. Bonus is broken down as follows:
- $25 when you open a primary savings account with a minimum balance of $5 and pay $1 membership fee. Must use promo code BONUS
- $25 when you open a senate checking account and opt to receive your free Visa debit card within 5 business days of your account application
- $150 when you receive Qualifying Direct Deposits of $250 or more into that account within 30 days of account opening
The Fine Print
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
This account has no monthly fees to worry about.
Early Account Termination Fee
I wasn’t able to find a fee schedule so unsure if there is any EATF.
Our Verdict
It looked like this might be nationwide, but you need to join the VA American Consumer Council chapter rather than the nationwide one. Bonus itself is pretty average to good and worth doing, will add this to our list of the best bank account bonuses.
Hat tip to Bertrand
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
Got charged $15 cash advance fee each for $5 funding of checking and $1 funding of savings with CIC. $200-$30 = $170 so still will take it and Chase was not willing to waive it even after escalating it with management.
Approved this month. Used P2 as eligibility, not ACC. Chex numbers (not counting Senate’s Chex pull)
1 mo = 1
3 mo = 3
6 mo = 13
12 mo = 25
24 mo = 47
P2’s Chex inquiry numbers (Approved) (not counting Senate’s Chex pull) 2/2022
1 mo = 2
3 mo = 4
6 mo = 9
12 mo = 20
24 mo = 46
Past attempt P1’s Chex inquiry numbers (Denied) Using VA Chapter ACC. 11/2021
1 mo = 2
3 mo = 8
6 mo = 14
12 mo = 26
24 mo = 45
So, seems that the last 3 months are most important, keeping the inquiries somewhere less than 8, and 4 was ok. In VA, but way out of footprint. Took just over 1 business week for them to contact me, and then two days of back and forth to finalize the opening.
Any update,
Mike ?
which credit card funding code purchase?
It is possible to join using the VA ACC certificate. It took about three weeks from start to approved application. Within a couple of days I was asked for what looked like a long list of verification, which I completed within 24 hours. A couple of weeks later, there was a secure message that went to spam. They wanted to verify the KYC questions about transfers in, transfers out, wires in or out, deposits, checks planned to be written, how often I travelled.
I actually travel down to DC from time to time, and even though they’re manually reviewing everything, they seem to be friendly in the interactions, so this account is a keeper for me.
How many chex inquiries?
P2 was denied a few months back for too many chex inquiries.
How did your DDs work out?
Mike I hope that they don’t shut down people’s accounts like Teachers
“Set up and receive a payroll direct deposit of $250 or more to your new USSFCU Senate Checking Account within 30-days of membership application.”
Fixed ty
Holy shit. Congrats,
Mike ! How many days did it take you from you first applied to the approval?
Hope that you’re still within the 30-day mark to DD.
Keep our hopes up,
Gadget - Bank Bonus Geek FYI
In reference to the 30 day DD requirement: https://www.doctorofcredit.com/va-only-united-states-senate-federal-credit-union-200-checking-bonus/#comment-1381193
What do you plan to use for DD? Could you please let us know what work for you later?
Mike
FYI:
Thank you
Mike for devoting yourself as a case study. I appreciate you.
We should cash app/venmo you to buy you a coffee! or Ko-Fi
Previously applied OOS using this method but was denied
In-state, my Adverse Action letter was marked Excessive Chex inquires in TWO spots! What did yours say?
Never sent me an adverse action. Called and mentioned OOS and discouraging people that just wanted bonus. Ymmv imo
Did you successfully do this?
chill bro. you should know a lot of us have dealt with over 100 banks and CUs and can’t possibly remember every detail accurately. I took the time to dig into my records and corrected myself to present a useful dp.
Mike
Got some duplicate inquires I’m disputing atm too.
I looked back at my denial info, and I did not get a request for additional documents, so you are probably ok. Initially, they went radio silent and I had to contact them.
https://www.doctorofcredit.com/contact-us/#comment-1284244
Then a mailed letter arrived – Chex denial, documented below.
Keep me updated
Thank you for your tips. I think the within 30 days of application may be YMMV.
Mike
It’s up for interpretation based on their website.
They can deny bonus if they want to.
Got it. You would think that they have more resources because they’re “United States Senate”
Mike
I’m rooting for you
Mike . Please let us know when you become a member of this CU