Deal has ended, view more bank account bonuses by clicking here.
Update 7/26/20: Confirmed soft pull, can be funded with a credit card and also soft pull.
Offer at a glance
- Maximum bonus amount:Â $100
- Availability:Â All branches are in IA [Branch locations]
- Direct deposit required:Â Yes, no minimum listed but might need to be $100+
- Additional requirements:Â Open with $50+
- Hard/soft pull: Soft pull
- ChexSystems: Unknown
- Credit card funding: Can fund up to $2,500 with a credit card
- Monthly fees:Â None
- Early account termination fee:Â $15, 6 months
- Household limit:Â One
- Expiration date:Â December 31, 2020
Contents
The Offer
- Collins Community Credit Union is offering a bonus of $100 when you open a new Advantage Checking account and complete the following requirements:
- Open with at least $50
- Start a direct deposit within 60 days of account opening (needs to be at least $100 according to this)
The Fine Print
- $100 Bonus: Member with any existing Collins Community CU checking account not eligible for the $100 bonus.
- Offer available at any Collins Community CU location.
- Must meet membership eligibility requirements.
- Limit one $100.00 bonus per household.
- To qualify for your $100.00 bonus, you must open and fund a Collins Community CU checking account with an initial deposit of $50.00 and start direct deposit within 60 days of opening the account.
- The $100.00 bonus will be deposited into your new Collins Community CU account within 60 days of your first direct deposit.
- The bonus is reported as interest on your Collins Community CU checking for IRS reporting purposes.
- Offer may not be combined with any other checking account offers.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Account has no monthly fees
Early Account Termination Fee
$15 if closed within six months
Our Verdict
Seems like it’s worth doing with a decent amount of credit card funding and can be opened online. Will add this to our list of the best bank account bonuses.
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
William Charles good until 12/31/2020
Spoke with live chat today about why I haven’t received my $100 deposit after having an allotment deposit of $15 on 08/21/2020. They advised I did not meet the requirement because according to promotions/bonuses department the deposit must total more than $100 (this is nowhere in the terms and conditions!). So please, shut this bank up before you attempt to do this and submit an allotment/deposit higher than $100. Now I’m awaiting for a call from the manager of the promotions department to further discuss this and hope they’ll at least give me a 30+ day extension since my 60 days have already passed.
TL:DR – A silent $100 deposit is required for bonus payout.
– Live Chat Agent “I checked with the deposit team. The direct deposits have to equal $100 before the credit is provided.”
William Charles
Let me add
Anyone know if Household limit is enforced? Will try at some point later in the fall if no DPs.
P2 opened account a while after P1 and received bonus. I’m guessing they enforce.
Real DD posted on 8/7, bonus posted on 8/27 (“Descriptive Deposit Checking Promo”).
Success! Legit work DD on 7/30, bonus posted on 8/19 (listed as “Descriptive Deposit Checking Promo”). Nice that it took only one DD to trigger it so I now can re-route that somewhere else.
William Charles Looks like ETF is $15 if closed before 6 months. Fee schedule: https://www.collinscu.org/rates/fees
Can anyone confirm if this can be opened out of state ?
+1
Also any DPs re Chex pull/sensitivity and CC funding would be appreciated. Opportunities to fund with Amex are rare so this could be an interesting offer.
I opened six other bank account prior to this in 2020 (and more in 2019) and was approved so I wouldn’t say they are overly sensitive.
You have to live/work in IA or have family members who are existing members. They ask you for that on the application.
Any member can refer me? email me: [email protected]
Thank you
No hard pull and terms for the bonus listed on the credit union website don’t say anything about it needing to be opened in branch. I also confirm what Levin says about $2,500 of CC funding, which is a nice perk.
I sent a message to [email protected] and they indicated that opening the account online will work for the bonus. Trying it out now
It also allow credit card funding: Visa, MasterCard, Discover, American Express (up to $2,500 on this application)
William Charles I used Chase Freedom Unlimited, and it just posted the deposit amount ($2001) as purchase
Are you a resident of one of the eligible counties/cities listed on their website? I’m looking to sign up for the credit card funding and I’m not in their footprint.
Can also confirm, funded with $2500 and coded as sale.
Apparently forgot to mention the card, also used 1.5% cashback freedom unlimited.
I like the new look of the site… But now it’s slow AF. Please fix William Charles
Working on it. Are you on mobile?
Yes I’m on mobile