Deal has ended, view more bank account bonuses by clicking here.
Update 10/12/24: Deal is back, but now for $500. Valid until 12/4/24. Hat tip to reader Alex
Offer at a glance
- Maximum bonus amount: $500
- Availability: Must live, work, worship, volunteer, attend school in one of the following counties: Albany, Columbia, Dutchess, Greene, Orange, Putnam, Rennselaer, Rockland, Saratoga, Schenectady, Ulster, and Westchester Counties
- Direct deposit required: Optional
- Additional requirements: See below
- Hard/soft pull: Soft pull
- ChexSystems: Unknown
- Credit card funding: Up to $10,000
- Monthly fees: None
- Early account termination fee: $20, 90 days
- Household limit: None
- Expiration date: 12/31/2023
Contents
The Offer
- Hudson Valley Federal Credit Union is offering $400 checking bonus. Requirements are as follows:
- Open a new HVCU Premier or Classic Checking Account with a Visa Debit Card
- Sign up for Internet Banking & eStatements
- Spend a minimum of $1,500 with your new Debit Card OR make $1,500 in direct deposits into your new account within the first 90 days
The Fine Print
- Terms and Conditions Applicable to $400 Bonus Checking Account Offer, valid from 10/2/2023 to 12/31/2023
- Account holder has 90 calendar days to meet the requirements to receive bonus. HVCU will deposit the $400 bonus into the account holder’s new checking account within five business days after the completion of the 90 calendar day qualification period, so long as the account holder fulfills each of the following three qualifications:
- Open a new checking account with HVCU Visa Debit Card (must be requested at time of account opening);
- Enroll in Internet Banking and/or Mobile Banking services and enroll in e-statements;
- Use your new HVCU debit card and spend a minimum of $1,500 using the new checking account OR sign up for qualifying direct deposits with a cumulative minimum of $1,500 into your new checking account. A “qualifying direct deposit” is a direct deposit of regular monthly income, such as your salary, pension, or Social Security benefits, which are made by your employer or other payer, using account and routing numbers that you provide to them. Examples of non-qualifying direct deposits and transfers include: your initial ACH deposit to open the account, teller deposits, wire transfers, debit card transfers, ATM transfers or deposits, or Internet or Mobile banking transfers or deposits. Offer subject to member verification.
- Only one bonus of $400 will be paid to the primary checking account owner. This must be your first HVCU checking account to qualify for this bonus. Only Personal Classic and Premier checking accounts are eligible for this offer. Members under the age of 18 are not eligible to receive this bonus. No exceptions will be made or considered. Account must be in good standing and the qualifications satisfied to receive bonus. Good standing means you have on deposit at least the par value of one full share ($0.01) in the regular share savings account, have no delinquent loans (payment is not more than 30 days late), and have a positive balance in all share accounts. May be subject to IRS reporting; please consult your tax advisor. HVCU expressly reserves the right to terminate this promotion at its discretion at any time and without further notice provided to you.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Classic checking account has no monthly fees to worry about.
Early Account Termination Fee
According to the fee schedule there is an early account termination fee of $20 if closed within 90 days of account opening.
Our Verdict
Not sure if the credit card funding is still available or not. Previous best was the $750 checking bonus, but that required a direct deposit. Worth doing if you live in an eligible area.
Hat tip to reader Tikky
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
The SUB link is still active but landing page says promo ends on 12/4/24 – anyone had any luck signing up after 12/4? I am pissed – looks like I am a few days late to the party!
anyone who already had a hvcu account in the past tried this and received the bonus?
So I put in an application and funded with cc. Credit card was immediately charged but then I had to cancel application because I can’t provide the proof they want. It’s been a week and they still haven’t refunded by CC charge. Anyone have the experience??
What kind of proof are they looking for?
I submitted an application and waited for 1+ week without any notice. And when I checked the status, it shows “declined”
had the same issue, it’s been close to 3 weeks and still no refund.
Wow, another $10k cc funding opportunity.
We need a VPN to spoof our location for these “locals only” bonuses!
It’d be better to find someone who lives locally who is willing to donate a machine for the cause. Then SSH in and you can remote desktop.
The fine print says: “ Residents of Albany, Columbia, Greene, Rensselaer, Saratoga, and Schenectady Counties: This promotional offer is valid for current members and applicants that meet the above criteria.”
It looks like the current $500 offer is only for those few counties (but not the rest of the counties they open at accounts for)?
Terms are terms. Sometimes FIs are more generous than the terms, just depends how much you want to roll the dice.
Did you get the bonus?
Did you apply and get the bonus?
I was considering doing this, but then
Bertrand’s DP on that they were very anal about documentation about working/residing in “those” specific counties.
I know it’s morally wrong to say you work/volunteer in a place you don’t, but it has worked for me quite a few times in the past, so why not try to shoot your shot, eh? 🏌️
I would have thought you had chosen the 1 religion that allowed for that particular type of misstatement.
I’m not that much of a “Savage”(just yet)
Maybe one day 🤡
Yeah I’m trying to stay within the lines (or figuring out where they are) as much as possible with this hobby lol.
$500 version of this is back https://www.hvcu.org/500-checking
Utterly awful experience. Applied online late December, received request to send in utility bill first week of January. Account finally opened by them last week but was told not eligible for the bonus. Now I have to keep it open for 90 days to avoid the early termination fee.
Did they say you weren’t eligible for the bonus because your account wasn’t actually opened until after the deadline? P2 had an equally horrible experience opening her account – she applied in November and wasn’t approved until after the deadline in early Jan. I had assumed that because she applied over a month before the promo ended she would still be eligible but haven’t confirmed with them. If they say she’s not, I’ll raise hell.
Yes, explicitly said that since the account was opened after 12/31/2023. Recommend sending them a PM to confirm.
11/6 account opened
11/14 pushed $1501 from Fidelity
2/6 $400 bonus posted
11/17/23 – Opened with $5
11/21/23 – Transferred $1509
11/22/23 – paid $1509 toward rent using debit ($8 fee for debit card usage.)
1/31/24 – bonus posted