Posted by William Charles on February 24, 2016
Bank Account Bonuses

Published on February 24th, 2016 | by William Charles

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[Expired][IL, IA only] Vibrant Credit Union $500 Checking + Credit Card Bonus

This offer has expired, you can view the best current bonuses by clicking here.

Offer at a glance

  • Maximum bonus amount: $500
  • Availability: Must live within 50 miles of a branch, all branches are in IL/IA [Branch Locator]
  • Direct deposit required: Yes, no minimum specified (somebody mentioned a $300 minimum though). Also apparently willing to work with you if you don’t have a hard pull
  • Additional requirements: Credit card with 5 transactions, eStatements
  • Hard/soft pull: Hard Pull (TransUnion)
  • Credit card funding: Unknown
  • Monthly fees: None
  • Early account termination fee: $5 if closed within 90 days
  • Expiration date: February 29th, 2016 March 31st, 2016 May 31st, 2016

The Offer

Direct link to offer

  • Receive a sign up bonus of $500 when you complete the following requirements with Vibrant Credit Union:
    • You must transfer your checking and savings account with direct deposit and open a Vibrant Visa Credit Card
    • Within 90 days of opening the account direct deposit of at least $250 a month must be set up and deposited, and you must have a minimum of 5 transactions on Vibrant Visa Credit Card within the first 90 days
    • Members must also be signed up for Estatements

20percent500promo

The Fine Print

  • Must be a new member, which means you or someone in your household can not have had a Vibrant or DHCU account within the last 2 years
  • Only one person per household can take advantage of this offer. If the above requirements are met, $500 will be deposited into your checking account after 90 days
  • Vibrant employees are not eligible for this promotion. This promotion is available beginning on Thursday, October 1st, 2015, and ending on Monday, February 29th, 2016
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
  • Cash earned from referrals will be deposited into your account within 90 days

Referral Bonus

If you’re already a Vibrant account holder, then you can receive $50 for each referred new member who meets the bonus requirements listed above. New member must mention the name referred by at the time of opening a new account. They will also be informed that you receive a $50 incentive. There is no cap on the number of people you can refer.

Feel free to share your referral information in the comments below.

Avoiding Fees

There is an early account termination fee of $5 that’s charged if the account is closed within 90 days. Their CashBack checking account doesn’t have any monthly fees and their Rewards Checking account $10/mo if avg daily balance is below $2500.

Our Verdict

Massive bonus, but the almost certain hard pull will put some people off. Personally I just view this as a credit card sign up bonus of $500 cash, with a bit more hassle (since you need to do a direct deposit). For people that can change their direct deposit easily, this should be a very good bonus for them. I’ll probably try signing up later today, if you have any experiences then please share them in the comments below.

 

Big thanks to reader, Dado K who let us know. Please consider sharing bank bonuses with this site so we can make it even better.

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Suljaga
Suljaga

Definitelly hard pull on transunion.

AE
AE

I wish they laid out – WHICH checking account, WHICH savings account and had some form of information as to who can apply and be accepted….

Dirk
Dirk

well i was thinking of doing my very first bank/cu sign up bonus but:
“members do need to live within 50 miles of one of our branches, all of which are in Iowa or Illinios.”

Johnny
Johnny

“must transfer your checking and savings account with direct deposit ”

what does that even mean? how would i transfer an account from another bank to them…

i live in chicago. assuming i can do this since im IL, but someone mentioned having to live within 50 miles of a branch (im over 100 miles from the closest still)

hardpull sucks but $500 seems worth it.

Andrew
Andrew

$500 is good for a single hard-pull, but the inevitable 1099 kills it for me.

J T
J T

Fee schedule: https://vibrantcreditunion.org/sites/default/files/account-disclosure-cr3.13.15.pdf

CashBack checking listed as free, Rewards checking is $10/mo if avg daily balance is below $2500.
ETF is $5 < 90 days.

IOException
IOException

Right from the homepage:

Membership that Matters

It’s banking that deposits into the community. We like it here. Vibrant helps people to bank better and live better lives. If you live or work within 50 miles of one of our branches, you can live more vibrantly!

Mike
Mike

I did this, referred wife, she got it, and referred two others. It posts on like day 89. They will work with u if no dd.

Chad
Chad

Mike- did you and your wife both get the $500 for opening up a new account? I signed up and just got the $500 yesterday. I would like to have my wife sign up as well, but I believe the rules say one per household. Did you both get the promo?

Steve
Steve

I called directly. I can verify that the offer is only eligible for those who live or work within 50 miles of one of their branches.

mike
mike

thanks for confirming..thats a big blow haha =( im 120 miles away and still cant take advantage oh well.

Nate
Nate

I see that it says one must be within 50 miles, but don’t know if this is enforced or not, so I attempted to open an account. I gave all my information (name, address, etc) and was taken to a page that said: “Thank you. This is the start of something great. Thanks for all the info. We are hard at work cooking up your new account. While you wait, feast your eyes on our other member benefits.” I haven’t had any confirmation emails or anything yet, so we will see….

Johnny
Johnny

What account did you open exactly? I’m not even clear on what to open. Did you apply for the CC or do you have to start both a checkings app and a savings app?

Are you just risking a hard pull anyways if they end up closing your account and saying you’re not eligible?

Nate
Nate

Yeah, I was unsure as well and couldn’t find any datapoints. I chose the “CashBack Checking” option. However, I still haven’t heard anything yet.

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