[CO Only] Elevations Credit Union $350 Checking Bonus

Update 3/5/25: Terms now state ‘Offer is restricted to Colorado residents’

Offer at a glance

  • Maximum bonus amount: $350
  • Availability: CO
  • Direct deposit required: Yes, $500+ per month for two months
  • Additional requirements: See below
  • Hard/soft pull: Soft
  • ChexSystems: Unknown
  • Credit card funding: Up to $2,500 (previously $10,000)
  • Monthly fees: No
  • Early account termination fee: 12 months, bonus forfeit
  • Household limit: One
  • Expiration date: May 31, 2025

The Offer

Direct link to offer

  • Elevations Credit Union is offering a $350 bonus when you open a new checking account and complete the following requirements:
    • Use promo code ECU350
    • Enroll in online banking.
    • Set up direct deposit with at least $500 per month for two month

The Fine Print

  • Checking cash bonus is not available to existing members, Elevations Credit Union employees, Elevations Board Members, or consumers who have been closed with a negative balance.
  • Limit one offer per New Membership and checking account.
  • Limit one bonus per household, per lifetime. To receive the cash bonus, open a new Elevations Free Checking, Buff One Checking or Dividend Checking account. Forever Buffs checking does not qualify for this offer. Member must have direct deposit(s) totaling $500 per month for two consecutive months following the open date of the account. Direct deposit must be new to Elevations Credit Union and must be payroll, pension, Social Security or other recurring government benefits. Member must log into online banking. All requirements must be met within 90 days of account opening. The cash bonus will be deposited into the new checking account within 30 days of the final qualifying requirement if the account opened is in good standing (i.e., is not overdrawn or at a zero balance). We reserve the right to substitute the bonus offered at any time with an item of similar value. Limited time bonus. The $350 cash bonus is considered interest and is subject to IRS and other tax reporting.
  • The cash bonus can be revoked if the account is closed within twelve (12) months of opening date.
  • Offer expires May 31, 2025.
  • Qualifying direct deposits: Qualifying deposits are regular, periodic automated clearing house (ACH) credits, which may include payroll, salary, pension or government payments (such as Social Security).  Deposits that DO NOT QUALIFY are those through the Real-Time Payments (RTP) network, payments through peer-to-peer networks such as PayPal, Zelle, Venmo or others, transfers from another Elevations deposit account, voided transactions, dividends, loan funding, adjustments, and micro-deposits (deposits typically less than $1 sent to your account to verify it is the correct account).
  • 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

Early Account Termination Fee

Bonus forfeit if closed within 12 months

Our Verdict

Previously there was a $100 bonus, but that was for University of Colorado students only. This is a much bigger bonus and open to more as well. Will add this to our list of the best bank account bonuses.

Hat tip to Lobster

Useful posts regarding bank bonuses:
    William Charles
  • On March 4, 2025, 14:00
Tags: co bank bonusescredit card fundingdirect deposit requiredsoft pull

View Comments (101)

  • Froze Chex and applied before the geo restriction term was added. OOF.

    "We’re reviewing your application and will be in touch with you in 3-5 business days."

    Haven't heard back yet but my $15.85 donation to the Local Change Foundation has been refunded.

    It's only been 4 biz days but I have a prediction...

    • I see mine refunded as well, I donated $15. I would say this means we are kicked to the curb like garbage. I have not tried calling yet.

  • In state. Navy FCU Flagship Rewards funding initially categorized as "cash advance", but has since transitioned to "online services". Only $5 charged, despite entering similar funding amounts in both checking and savings that cumulatively totaled $2500.

  • OOS applicant here. No email so far but the donation I made to their charity was returned to my card.

  • Approved in state but was unable to fund with a credit card. I tried $2495 on Amex Biz Plat and it failed. With a rep on the phone, they tried a Barclay HA Biz card for the same amount and it failed. Then we tried a Citi Premier for the same amount and it failed. Citi Premier for $5 also failed. I ended up funding $5 with a debit card to finish opening up my account.

    • That's incredible that they let you try with 4 different cards! Did you have a $0 cash limit on all of those cards? Were any of them fraud alerts?

  • Mannnnn........ The amount of Doritos and Sunchips i could have bought with that $15

    WTH ya'll doing 😭

    • Funny thing. I donated $15 with my Chase Freedom Unlimited; I applied from OOS. Today I was in the Chase app considering refuting the donation, got a few steps in but have not submitted. Few minutes later the donation got refunded. I don’t know if it’s the CU or me…

      Anyone else got their donation refunded?

      • I got annoyed at being refunded and having the $15 Vegas package refunded.. so um.. 'I showed them' by donating again for $30 and leaving a comment in the comment section saying please don't refund my donation even if my application is denied. Game over ElevationsCU!!

  • Denied oos due to couldn’t verify. I’ve heard this could mean Chex, I have a lot of inquiries so would be no surprise

    Glad I didn’t actually donate when I applied

  • Applied OOS and went pending. Got email today saying unable to verify identity and come to branch.
    No Chex Pull or HP.

      • @guest_2017277,

        I wrote "Was your Chex pulled at any point?" after @guest_2017044 wrote "No Chex Pull or HP."

        I only noticed this now and checked my email and confirmed that @guest_2017044 did not have that line in the original comment. They must have edited their comment seconds before my reply posted to that site.

        However, anyone reading this now would think that I'm a fool!

        I'm telling you all this so you know not to feel too bad about what happened in the LMCU post. 😀

        • @guest_2017277,

          I stupidly copy/pasted your guest # into my comment by mistake so the tag didn't work properly. I'm adding this comment now so that you'll receive the "Mention" email. 😀

        • So at least applying only cost you $15. A Chex inquiry is much more valuable than $15. 😉

          • Your comment reminded me of this interesting chat between @guest_1894325 and @guest_1894324 that started here: #1894324.

          • I've had my share of heated (or worse) conversations on DoC so I won't comment on that. 😉

          • Yeah. I find myself in fewer flame wars these days, but they can be pretty difficult to extract yourself from once you're in the fray

          • Others reported being charged for the donation immediately so I assumed that happened for everyone that chose the donation option.

          • lol. the real grift here was generating a bunch of apps to solicit donations. genius!

Leave a Comment