[MA only] Holyoke Credit Union $200 Checking Bonus

Update 11/16/24: Bonus is now $200. Bonus displayed on homepage without full terms. Hat tip to snailrock

Update 4/19/22: Deal now $150, up from $110. Hat tip to Lopeza101

Update 10/2/21: Deal is now $110 (up from $100).

Offer at a glance

• Maximum bonus amount: $150
• Availability:  Membership in the Holyoke Credit Union is available to anyone who lives or works in Hampden or Hampshire counties in Massachusetts
• Direct deposit required: Yes, must be full direct deposit
• Additional requirements: See below
• Hard/soft pull: Unknown
• ChexSystems: Unknown
• Credit card funding: Unknown
• Monthly fees: None
• Early account termination fee: One year, bonus forfeit
• Household limit: None
• Expiration date: None listed

The Offer

Direct link to offer

• Holyoke Credit Union is offering a $110 bonus when you open a new Holyoke Simply Free checking account and complete the following requirements:
  • Set up a direct deposit within 60 days of account opening, this must be maintained for a full year
  • Have at least six debit card purchases post and clear per monthly qualification cycle – OR – you must spend $1,000 on your Holyoke Credit Union VISA® Platinum Credit Card within three (3) months of the credit card being issued

The Fine Print

• You will receive your $100 bonus once Holyoke Credit Union receives your direct deposit. Direct deposit must be received within 60 days of account opening.
  Holyoke Credit Union must receive your full direct deposit during each monthly qualification cycle (statement period) for a full year.
  Checking account must have at least six (6) debit card purchases post and clear per monthly qualification cycle – OR – you must spend $1,000 on your Holyoke Credit Union VISA® Platinum Credit Card within three (3) months of the credit card being issued.
• Member must enroll in online banking and receive eStatements.
• One $100 bonus per member/household.
• Your checking account will be charged $100 if these qualifications are not met during the first 12 months after the account is opened.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

None

Early Account Termination Fee

Bonus forfeit if the qualifications are not met for one year, so account needs to be kept open for one year or more.

Our Verdict

Insane requirements for a bonus of only $100. Definitely not worth doing in my opinion and I won’t be adding this to our best checking sign up bonus page.

Hat tip to reader EW

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