[Expired] Service Credit Union $200/$500 Checking Bonus

Deal has ended, view more bank account bonuses by clicking here.

Offer at a glance

• Maximum bonus amount: $500
• Availability: MA, NH only. It’s actually available nationwide if you join the ACC (free to join) first
• Direct deposit required: Yes, $500-$1,500+ depending on the bonus. Terms do state it has to be your net pay
• Additional requirements: None
• Hard/soft pull: Soft pull
• ChexSystems: Unknown, not sensitive
• Credit card funding: Can fund up to $1,500 $250 with a credit card
• Monthly fees: None
• Early account termination fee: None
• Household limit: None
• Expiration date: 03/31/2024

The Offer

Direct link to offer

• Service Credit Union is offering a checking bonus of up to $500. Requirements are as follows:
  • Receive a $200 bonus when you receive a direct deposit of at least $500 each month for at least 90 days
  • Receive a $500 bonus when you receive a direct deposit of at least $1,500 each month for at least 90 days

The Fine Print

• Must be a member of Service CU with at least $5 in a Primary Savings account and open a new Everyday or Dividend checking account.
• Must establish reoccurring direct deposit of net pay active for at least 90 days (about 3 months), minimum one deposit each month for three consecutive months.
• Direct deposit of net pay includes but is not limited to payroll deposits, social security deposits, and retirement payments.
• Direct deposit of at least $500.00 each month will result in a bonus of $200.00; direct deposit of at least $1,500.00 each month will result in a bonus of $500.00.
• All criteria must be met within 90 days of account opening; bonus will be deposited into member’s Primary Savings account within 90 days of all criteria being met.
•  If we in our sole discretion determine that you have engaged in abuse, misuse, or gaming in connection with this offer in any way or that you intend to do so, we may not credit the bonus to, we may freeze the bonus to, or we may take away bonus from your account.
• The credit union will issue a 1099-INT for tax purposes.
• This promotion is exclusively for members that do not currently, or have not previously, held any consumer checking account product with Service CU within the past 12 months.
• To qualify for this offer, checking account must be opened via the promotional webpage listed in the offer, or if checking account is opened at a branch office or the Contact Center, member must mention this offer to the representative at the time of account opening.
• Offer valid from 01/01/2024 to 03/31/2024 and subject to change or be discontinued at any time without notice.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

The everyday checking account has no monthly fees to worry about.

Early Account Termination Fee

I wasn’t able to find any early account termination fee in the fee schedule.

Our Verdict

The terms do state your direct deposit must be your net pay, so keep that in mind. Previously there was a $100 bonus that didn’t require a direct deposit. This bonus is much bigger and worth dealing with the direct deposit requirement in my opinion. I suspect this offer will be pulled early so if you’re interested sign up ASAP. We will add this to our best bank account bonuses.

Hat tip to reader edman

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?
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