Update 7/2/24: Extended until 12/31/24
Update 1/14/24: Extended until 6/30/24.
Update 7/4/23: Extended until 12/31/23.
Update 1/12/23: Extended until 6/30/23.
Update 1/4/23: There is a $225 version available in California only.
Update 7/4/22: Extended until Dec 31st
Update 1/5/22: Extended until 6/30/22.
Update 10/24/21: Extended until 12/31
Update 9/22/20: Bonus has increased from $125 to $175.
Offer at a glance
- Maximum bonus amount: $125
- Availability: Must live or work in:
- Bond, Champaign, Christian, Clinton, DeWitt, Douglas, Ford, Fulton, Iroquois, Jersey, Knox, Livingston, Logan, Macon, Macoupin, Madison, Marshall, Mason, McLean, Monroe, Montgomery, Peoria, Piatt, Putnam, Randolph, Saint Clair, Sangamon, Stark, Tazewell, Vermilion, Washington, or Woodford counties in Illinois
- ive, work, or worship in Alameda, Contra Costa, or Santa Clara counties in California
- Direct deposit required: No
- Additional requirements: See below
- Hard/soft pull: Hard pull
- ChexSystems: Yes
- Credit card funding: Up to $200
- Monthly fees: Fee free option available
- Early account termination fee: Unknown
- Household limit: None listed
- Expiration date:
June 30th, 2019December 31st, 2019June 30th, 2020December 31st, 2020June 30, 2021
Contents
The Offer
Direct link to offer | Direct link to offer $175 bonus
- CEFCU is offering a bonus of $125 when you open a new checking account and complete the following requirements:
- $150 bonus when you meet one of the following requirements:
- have a minimum individual balance of $5,000 or minimum household balance of $10,000
- make 5 or more purchases of at least $15 with your CEFCU Debit Mastercard linked to this new Checking account
- have direct deposits totaling $500 or more on this Checking account or associated Savings account
- $25 bonus when you use your CEFCU debit mastercard for 5 or more purchases of at least $15 each month for the first three full calendar months following account opening
- $150 bonus when you meet one of the following requirements:
The Fine Print
- The bonuses are not available on transfers of existing CEFCU Checking accounts.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Their free checking account also has no monthly fees to worry about.
Early Account Termination Fee
I was unable to find a fee schedule so I’m unsure if there is any early account termination fee or not.
Our Verdict
Previous best bonus was $100. I do think this bonus is worth doing due to the fact there is no hard pull and no direct deposit. Because of that I will be adding this to our list of the best checking account bonuses.
Hat tip to reader Icon
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
View Comments (62)
Expanded membership/bonus eligibility for Illinois counties:
Lives or works in one of these Illinois counties: Bond, Champaign, Christian, Clinton, DeWitt, Douglas, Ford, Fulton, Iroquois, Jersey, Knox, Livingston, Logan, Macon, Macoupin, Madison, Marshall, Mason, McLean, Monroe, Montgomery, Peoria, Piatt, Putnam, Randolph, Saint Clair, Sangamon, Stark, Tazewell, Vermilion, Washington, or Woodford.
@2
Updated, thanks
3/23: account opened and funded
4/1: received an email saying my checking account was closed due to CHEX
Ive never seen an account being fully opened and funded then closed afterwards.
tried to apply and the system will not send verification codes to your phone
How long do you have to wait from the last account opened at cefcu to be considered a new member?
Fee schedule appears to suggest 18 months:
Savings Reopen (If closed account is reopened within eighteen (18) months.) Fee...................................................$10.00 first occurrence;
$20.00 secondoccurrence;
$30.00 third and each subsequent occurrence.
Bonus has been extended until 6/30/23, and they upped the bonus to $225. Same requirements as before, so an extra $50. Increased bonus shows up at this link: https://www.cefcu.com/promos/specialpricing
Other link still shows the lower $175 bonus.
@will @chucksithe
Is there credit card funding into the account?
Thanks, available in CA only
This is what I got! Best nonsense response from a bank all year:
"I am sorry you were unable to open an account. Federal law requires us to compare any new members to certain government lists. If the name of a new member matches or closely resembles that of an individual on the lists, we receive an alert.
Although we were able to determine that you are not the individual identified on the lists, we are currently unable to move forward with an online application that has an OFAC alert. To move forward with opening your account please visit a local office or apply by mail."
why so many people open this since it is hard pull?
Still a hard pull?
Both the $125 and $175 offers extended until Dec 31st @will @chucksithe
funded with credit card (CIU) for $200 max. Coded as transaction. However, I setup online banking a couple days ago and my account is not showing up for some reason...
Called them and the reason my account isn't showing up is because the funds I used to fund the account have not settled completely yet.