[Expired] [CT only] Union Savings Bank $600 Checking + Savings Bonus

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

Update 8/31/24: Deal is back until October 16, 2024. Hat tip to reader Gorb

Offer at a glance

• Maximum bonus amount: $600
• Availability: You must be a CT resident, or current USB customer, to apply online. If not CT resident, must apply in-branch.
• Direct deposit required: Yes, no minimum specified and can get some of the bonus without a direct deposit. 
• Additional requirements: None
• Hard/soft pull: Soft pull
• ChexSystems: Unknown, Sensitive when applying online, not sensitive in branch
• Credit card funding: None
• Monthly fees: Avoidable
• Early account termination fee:
• Household limit: One
• Expiration date: April 30, 2024

The Offer

Direct link to offer

• Union Savings Bank is offering a bonus of up to $600 when you open a new checking account. There are two options:
  • Open an essential checking account and receive a bonus of up to $100. Bonus is broken down as follows:
    • Get $50 if you make one qualifying direct deposit within 90 days of account opening
    • Get $50 when you open a USB debit card and make 10 debit card purchases within 90 days of account opening
    • Get $50 when you open an Essential Savings Account at the same time as the checking account, and maintain a $500 average balance or more for 90 days from the date of account opening
  • Open an access checking account and get a bonus of up to $250. Bonus is broken down as follows:
    • Get $300 if you make one qualifying direct deposit within 90 days of account opening
    • Get $300.00 when you open a companion Access Savings account at the same time as the checking account and maintain an average balance of $15,000 or more for 90 days from the date of account openin

The Fine Print

• To receive up to $150 bonus, open a new Essential Checking account (subject to approval) and deposit $25 or more at account opening; or open a new Core Checking account (subject to approval) and deposit $10 or more at account opening. Get $50.00 if you make one qualifying direct deposit within 60 days of opening the account; and/or get $50.00 when you open a USB Debit Card and make 10 debit card purchases (signature or PIN) within 60 days of opening the account. ATM transactions do not qualify. Qualifying direct deposits include recurring electronic deposits of payroll, pension or Social Security. Person-to-person, bank transfers or other electronic money transfers, such as those made through internet payment services, do not qualify. Additionally, get $50 when you open an Essential Savings Account at the same time as the checking account, and maintain a $500 average balance or more for 90 days from the date of account opening. New USB savings customers only.
• To receive up to $600 bonus, open a new Access Checking account (subject to approval) and deposit $50 or more at account opening. Get $300.00 if you make one qualifying direct deposit within 60 days of opening the account. Qualifying direct deposits include recurring electronic deposits of payroll, pension or Social Security. Person-to-person, bank transfers or other electronic money transfers, such as those made through internet payment services, do not qualify. Additionally, get $300.00 when you open a companion Access Savings account at the same time as the checking account and maintain an average balance of $15,000 or more for 90 days from the date of account opening. New USB savings customers only.
• Offer is valid from February 15, 2024 through April 30, 2024. New USB personal checking customers only. Limit one per household. Promotion may be canceled without notice. Bonus amounts will be credited to checking and/or savings account between April 15, 2024, and August 15, 2024, depending on the date you open the account. Account must be open and in good standing to receive bonus. Bonuses are subject to 1099 IRS reporting requirements. Employees of Union Savings Bank are not eligible.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Essential Checking $100 Bonus

This account has no monthly service fee to worry about.

Access Checking $150 Bonus

This account has a monthly service fee ($20), this is waived if you do any of the following:

• maintain a minimum balance of $5,000
• combined deposit balances of $25,000, or
• combined deposit and loan balances of $50,000. Loan balances include consumer and mortgage loans.

Early Account Termination Fee

I wasn’t able to find any mention of an early account termination fee.

Our Verdict

The $300 savings bonus works out to be an APY of 8%+ so worth doing compared to other savings accounts. Checking bonus is good as well and better than what is normally offered. We will add this to our list of the best bank account bonuses.

Hat tip to Quinn

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• 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
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