Offer at a glance
- Maximum bonus amount: $350
- Availability: Membership is open to anyone who lives or works in Dane, Green, Jefferson, Kenosha, Milwaukee, Ozaukee, Racine, Rock, Walworth, Washington and Waukesha Counties.
- Direct deposit required: Yes, $200+
- Additional requirements: 15 debit card transactions
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Unknown, unlikely due to in branch opening
- Monthly fees: None
- Early account termination fee: $20, 90 days
- Household limit: None listed
- Expiration date: None listed
Contents
The Offer
- Educators Credit Union (ECU) is offering a $350 bonus when you use a referral code to open a new account and complete the following requirements:
- The referred member must provide the referring member’s unique Referral Code at the time of account opening.
- The referred member must receive a direct deposit into their account of at least $200 within 60 days of account opening (ex. Social Security, payroll, etc.)
- The referred member must qualify for Educators Member Loyalty within 60 days of account opening.
The Fine Print
To receive the $50 Referral Reward:
- Refer family and friends who do not already bank with Educators to open a qualifying Educators checking account. The referred member must be considered a new member and not have had an Educators Credit Union account within the past six months. If the referred member was previously an Educators Credit Union member, their account must have been in good standing to qualify for this program.
- The referred member must provide the referring member’s unique Referral Code at the time of account opening.
- The referred member must receive a direct deposit into their account of at least $200 within 60 days of account opening (ex. Social Security, payroll, etc.)
- The referred member must qualify for Educators Member Loyalty within 60 days of account opening.
If the above four conditions are met, we’ll deposit the $50 Referral Reward into the referring member’s primary checking account within 10 days.
To receive the $350 Bonus:
- The referred member must provide the referring member’s unique Referral Code at the time of account opening.
- The referred member must receive a direct deposit into their account of at least $200 within 60 days of account opening (ex. Social Security, payroll, etc.)
- The referred member must qualify for Educators Member Loyalty within 60 days of account opening.
If the above three conditions are met, we’ll deposit the $350 bonus into the referred member’s primary checking account within 10 days.
Eligibility may be limited based on account ownership. Bonuses and rewards are considered miscellaneous information and may be reported to you and the IRS on Form 1099-MISC. Employees of Educators Credit Union are eligible for the Member Referral Program, excluding executive and senior management.
Avoiding Fees
Monthly Fees
They offer a free checking
Early Account Termination Fee
There is an early account termination fee of $20 if the account is closed within the first 90 days according to their fee schedule
Our Verdict
Feel free to share your referrals 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
