[Expired] [IL only] First Northern Credit Union $200 Checking Bonus

Deal has expired, view the best current checking bonuses by clicking here.

Offer at a glance

• Maximum bonus amount: $200 + $300 for loan
• Availability: IL only
• Direct deposit required: Yes, at least $500
• Additional requirements: 30 debit card transactions, eStatements & 3 bill pays
• Hard/soft pull: Hard pull
• ChexSystems: Unknown, sensitive
• Credit card funding: Unknown
• Monthly fees: None
• Early account termination fee: Six months, bonus forfeit
• Household limit: None listed
• Expiration date: December 31st, 2018

The Offer

Direct link to offer

• First Northern Credit Union is offering a bonus of up to $200 when you open a new checking account. Bonus & requirements are as follows:
  • Use promo code BD2018 when opening account
  • Receive $100 when you open a new checking account and set up a monthly direct deposit deposit of at least $500
  • Receive $75 when you use your debit card to make at least 30 credit transactions within 90 days of account opening
  • Receive $25 when you sign up for eStatements and initiate three third party bill payments from the bill pay provider within 60 days of account opening
• You can also receive a $300 bonus when you purchase or refinance a vehicle or home equity loan

The Fine Print

• Offer not available to existing First Northern checking account holders or members who have closed a checking account within the last 90 days.
• Mention promo code: BD2018 when applying.
• To be eligible for our checking bonus of $100, set up and deposit a minimum of $500, via direct deposit, monthly. Your direct deposit needs to be an electronic deposit of your paycheck, pension, or government benefits into a First Northern checking account (subject to approval).
• To receive our $75 signature based debit card bonus, use your First Northern Visa debit card, choose credit, and sign for 30 or more purchases within 90 days of account opening.
• To receive our $25 eStatement and Bill Pay bonus, log into our online banking www.fncu.org to sign up for eStatements and initiate three third party bill payments from our bill pay provider within 60 days of account opening.
• All bonuses will be paid within 90 days of completing related requirements. Note: to receive any bonuses, your other accounts with us must be in good standing, and if your checking account is closed by you or FNCU within 6 months upon opening, we will deduct the bonus amount at closing.
• To receive up to a $300 bonus for refinancing a vehicle or home equity loan from another lender, the following requirements and conditions apply: 1.) Refinancing a vehicle
  or home equity loan from another lender is subject to our guidelines and credit approval, and must be completed within 90 days of opening your new checking account with qualified direct deposit.
  2.) If your vehicle or home equity loan is approved, we will pay a bonus of $100 for loans made between $15,000 – $20,000, $200 for loans made between $20,001 and $30,000, and $300 for loans over $30,000. Bonus for these transactions will be paid on or after 90 days from the loan’s inception.
• Note: If your loan is paid off within 6 months after inception, we will deduct the bonus amount at the end of that month’s statement cycle. Cannot be combined with any other offer.
• Offer expires 12/31/18. Federally insured by NCUA.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Value now is the easiest to keep fee free as it has no monthly fees to worry about.

Early Account Termination Fee

Account needs to be kept open for six months otherwise bonus is forfeit.

Our Verdict

I never recommend doing refinancing deals unless you’re getting a better rate than currently (and better than you can get elsewhere) a higher rate on a big loan such as auto/home is quickly going to be more than the $300. The $200 checking bonus is interesting, but a lot of requirements for only $200. Because it’s a hard pull and they are ChexSystems sensitive I wouldn’t recommend doing this deal. As always if you go for this then please share your experiences in the comments below.

Big thanks to reader, Curmudgeon who let us know. Learn how to find bonuses and contribute to the site here.

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• 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?
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