Update 1/14/23: Deal is back, this time a $100 referral for both sides. Feel free to share your referrals in the comments below.
Update 9/11/22: Deal is back. Hat tip to alopez14
Offer at a glance
- Maximum bonus amount:Â $100
- Availability: Santa Clara County CA only
- Direct deposit required:Â No
- Additional requirements:Â See below
- Hard/soft pull: Hard pull
- ChexSystems: Unknown
- Credit card funding:Â Unknown
- Monthly fees:Â None
- Early account termination fee:Â Unknown
- Household limit:Â None listed
- Expiration date:Â None listed
Contents
The Offer
- Commonwealth Central Credit Union is offering a $100 bonus to both sides when using a referral when you open a new checking account and complete the following requirements:
- Use promo code SHARE100
- Account also earns 2% APY on balances up to $20,000 when you meet the following requirements:
- Make 15+Â transactions with your debit card and/or Visa credit card
- Have direct deposit or ACH deposit transactions totaling at least $300
- Receive eStatements
The Fine Print
- Membership in CommonWealth is required.
- Offer applies to new checking accounts only.
- Subject to $100 fee for closing checking account within 6 months.
- All new accounts will be verified by Chex Systems.
- Cash or non-cash gifts in excess of $10 are subject to IRS reporting on form 1099-INT.
- Offer is subject to cancellation without notice and cannot be combined with any other offer. Promotion code: SUMMER
- 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 as long as you opt out of paper statements.
Early Account Termination Fee
Wasn’t able to find a fee schedule so unsure is there an early account termination fee or not.
Our Verdict
Not the most attractive bonus as it’s a hard pull, but given there are no requirements this is worth doing for some people. The 1.5% APY rate isn’t that attractive given the requirements.
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
Just opened an account as was told that max funding with CC is $100
I just opened, but the limit is $1000.
You don’t need to use someone’s name when you sign up online. Just use the SHARE100 promo code in the online application. Your banker will deposit the 100 into your account once you have completed the minimum 15 dollar funding ($5 fee for membership, $10 minimum in checking account). Additionally, banker allows for credit card or debit card funding over the phone (Visa, MC, or Discover only). Did not tell me the limit for CC funding, ymmv. Sign up for paperless statements to avoid the monthly fee.
My referral name is John OConnor. I’ve had a Wealth CU account for a while so there should be no issue getting the bonus
My referral name is Davis Thomas. If the credit union needs an account number, DM me.
nsf
I used your name as referrer, can you provide me your phone number or bank account?
Posted offer appears to have ended, but currently there’s a $100 referral program for both referrer and referred, limit 5 referrals household.
https://www.wealthcu.org/referral-program
It appears the referred needs to provide the referrer’s account number or name somewhere in the application process.
Could we get an offer / referral post going? (I need a referral 🙂)
William Charles 
Chuck
Anyway to still use this offer or dead now?
I went in today and got my 100$, the teller didn’t mention anything about a hard credit pull. All I had to do was give them 15$, which is for a checking and saving deposit or something.
10/07: Opened online using SoCal address but put my employer as Financial Fitness Association (am just a member), Experian hard pull, $1000 in credit card funding on my Sofi 3% card
10/18: Account finally opened with the funding after a series of questions to verify my identity.
10/26: $100 bonus
the cc funding is $1000? lol
This may not have ever expired last year. It’s just the farther away from “summer” you get, the more likely it’s not going to work. The referral offer is $100/$100 with no somewhat expiration date. https://www.wealthcu.org/referral-program . These guys are a part of Financial Fitness Association that maybe you can say you “work” for them. There is also a box on the application if you don’t satisfy any requirements. I might visit this branch and Excite
Can you post your referral because the link above seems to be dead?
I asked them what the official process is since there doesn’t appear to be a way to link it. Here is what they responded with:
Hi Davis Thomas,
There is no code to enter to link their application to your account.
If they enter the promo code: SHARE100, the representative will know that they have been referred.
They will need to state your name and/or provide your member number to link the referral to you.
Please let us know if you have further questions.
Kind regards,
Member Services
Thanks. Submitted application, added Share100 but there wasn’t anywhere to add a name and didn’t get option to fund account with credit card. After I submitted it said that it’s in review and representative will reach out.
Thanks, Applied and application is pending and a representative will reach out. Added Share100, but nowhere to add a name or find with credit card. Was credit card funding available after account is approved? If account is opened I will try to call and get your name added to referral.
Thank you. Sometimes applications have a general comment section. I can’t remember if this one did
They need your membership number. You happy to provide it?
155901
Thanks. Done, bonus posted on my end.
Same thank you
Did they take $15 for the regular share account when you opened? Do you get that back once you close the account?
They took $5 out of my account as part of me “owning” the credit union. I’m sure they’ll give it back when I close.
New Inquiry
CUDL/COMMONWEALTH CENTRAL CU
An inquiry is a record of someone checking your credit information. This usually happens when you apply for a new line of credit.