[Santa Clara County, CA only] Commonwealth Central Credit Union $100 Referral Checking Bonus

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: $100
  • Availability: Santa Clara County CA only
  • Direct deposit required: No
  • Additional requirements: See below
  • Hard/soft pull: Hard pull
  • ChexSystems: Unknown
  • Credit card funding: Unknown
  • Monthly fees: None
  • Early account termination fee: Unknown
  • Household limit: None listed
  • Expiration date: None listed

The Offer

Direct link to 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+ 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:
    William Charles
  • On January 14, 2024, 07:30
Tags: ca bank bonusesdirect deposit not required

View Comments (48)

  • Applied with frozen Experian. Rep contacted me saying they hard pull so I would have to thaw my report. Always makes me giggle when banks think they need to do a hard pull for a damn checking account.

  • 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

    • @guest_1777682 I used your name in my application and I just received a voicemail saying they were having trouble finding you in the system. Any idea what the issue could be? Feel free to either comment here or email me at rowdawg21@hotmail.com.

  • My referral name is Davis Thomas. If the credit union needs an account number, DM me. @guest_1775207

  • 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 🙂) @2 @6

  • 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

  • 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

      • 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, 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.

        • 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.

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