[MA, Bristol County only] Taunton Federal Credit Union $350 Checking Bonus

Update 12/4/23: Bonus now $350.

Offer at a glance

• Maximum bonus amount: $200
• Availability: MA only (need to live, work, or worship in Bristol County).
• Direct deposit required: Yes, for six months for full bonus 
• Additional requirements: See below
• Hard/soft pull: Unknown
• ChexSystems: Unknown
• Credit card funding: Unknown
• Monthly fees: $5.95, avoidable
• Early account termination fee: $10, 3 months. Bonus requires account to be open for six months anyway
• Household limit: None
• Expiration date: None listed

The Offer

Direct link to offer

• Taunton Federal Credit Union is offering a bonus of up to $200 when you open a new checking account, bonus is broken down as follows:
  • $25 when you sign up for direct deposit and enroll in eStatements
  • $25 after you 10 signature based debit card transactions have processed within 30 days of account opening.
  • $25 after you  have logged into online banking at least four times.
  • $50 after your first direct deposit is processed on your account (must be at least $50)
  • $100 credit after you’re account has been opened for 6 months with direct deposit (must have also qualified for the above bonuses)

The Fine Print

• Applies to new member accounts only. Primary signer on the new checking account must be at least 18 years of age and may not be or have been a primary or joint signer on any personal checking account at TFCU.
• $25 account credit will be awarded at time of account opening when a qualifying Direct Deposit is initiated and enrollment in e-Statement occurs.
• $25 account credit will be awarded after 10 Signature Based Debit Card Transactions have processed within first 30 days of account opening.
• Must have logged into Online Banking at least four times during first 30 days to earn incentive.
• $50 account credit will be awarded when qualified Direct Deposit processes within 60 days of Checking Account opening with a minimum of $50 per pay period.
• $100 account credit will be awarded upon confirmation of open/active Checking Account with Direct Deposit for 6 months. Must have qualified for previous incentives to earn $100 reward. Rewards will be credited to the checking account approximately 30 days after confirmation of requirements
• Account must be maintained in a satisfactory manner in order to qualify for any reward. Additional terms and conditions may apply.
• Cannot be combined with any other offer.
• Limited time only.
• Qualifying Direct Deposit is a credit of your salary, pension, social security or other regular monthly income.
• Transfers from one account to another or deposits made through ACH do not qualify as direct deposit.
• TFCU reserves the right to discontinue the program at any time without notice as well as to disqualify members from this promotion at its sole discretion.
• Taunton Federal Credit Union employees, volunteers, or Board members are not eligible for this promotion.
• Taunton Federal Credit Union will report bonuses of $10.00 or more on deposit accounts to the Internal Revenue Service.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Easiest account to keep fee free is the Basic checking account. This has a $5.95 monthly fee, this is waived when you do all of the following:

• Have a minimum aggregate balance of $500
• Active enrollment in eStatements, Online Banking & open debit card

Early Account Termination Fee

There is a closed checking account fee of $10 if the account is closed within 3 months. The account does need to be kept open for the full six months anyway.

Our Verdict

Isn’t clear if this can be opened online or not, doesn’t look like it. Not that it really matters as this bonus has entirely too many requirements, especially those centering around direct deposits to be really worth considering. I guess if you can easily change payroll it might be worth doing if it’s a soft pull, but with so many other better bonuses available I’d just give this one a miss personally. As always if you do decide to go for it then share your experiences in the comments below.

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