Extended through 3/31/2025
Extended through 12/31
Update 8/24/24: Bonus is now $200. Hat tip to DN_03755
Offer at a glance
- Maximum bonus amount: $200
- Availability:
- Individuals who live, work, worship, or attend school in New York City (NYC)
- Individuals who work for New York State (NYS) or Federal Employers
- Direct deposit required: Yes, $200+
- Additional requirements: None
- Hard/soft pull: Soft pull
- ChexSystems: Unknown
- Credit card funding: No
- Monthly fees: None
- Early account termination fee: Unknown
- Household limit: None listed
- Expiration date: 9/30/24
Contents
The Offer
- MCU is offering a $200 bonus when you open a new free checking account and complete the following requirements:
- Receive a direct deposit or payroll deduction of $200 or more within 90 days
- Can also get a $50 bonus for opening a Hero Savings Account between 7/15/24 and 9/30/24
The Fine Print
- You must open a Checking Account with MCU between 5/1/24 and 6/30/24 connected to direct deposit or payroll deduction to get $100.
- Limit one account-opening bonus per qualifying account.
- If requirements have been met, the $100 will be deposited into your account 8/9/2024.
- Offer not available to individuals who were a primary account owner of an MCU checking account in the last 12 months.
- Account must not be closed or restricted during the time of promotional period.
- Offer is subject to cancellation without notice. Account opening is subject to approval.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
This account has no monthly fees to worry about.
Early Account Termination Fee
I wasn’t able to find a fee schedule so unsure if there is any EATF.
Our Verdict
Need to know if it’s a hard or soft pull.
Hat tip to Bockrr
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
Post needs an update,
William Charles. New link: https://www.nymcu.org/200bonus Exp. 3/31
Also, it’s hard to find this page because you misspelled Municipal in the title.
They also refreshed their referral program, $25 for both parties. Was a branch only program before, but can be done online now. Existing MCU customers need to register to get their own link here: https://share.nymcu.org
DP:
10/16 – P2 opened online. Pulls Chex, no HP. Can’t remember if it was instant or same day approval.
10/21 – Fidelity ACH $225
11/04 – “$200 PROMO” posted
11/13 – P1 opened online. (Chex 2/1, 4/2, 6/3, 9/6, 16/12, 31/24)
11/18 – Fidelity ACH $225
12/03 – “$200 PROMO” posted
No verification of membership eligibility was done.
Updated, thanks
Note at the top of the page still says 12/31 expiration. Thanks
William Charles
My bonus never came so I sent a secure email. Was told that “Although you had the one-time direct deposit, you never established an ongoing direct deposit or payroll deduction to your account”. Was there anywhere in the terms for recurring direct deposit?? Mine was a real DD from employer.
How should I proceed? Many thanks!!
Their terms don’t mention recurring direct deposit. Send another SM with a screenshot of the terms and mention that they didn’t specify the dd needs to be recurring. If they still refuse then file a NCUA complaint.
“set up direct deposit or payroll deduction, and make one direct deposit requirement of $200 or more within 90 days of account opening to get $200”
Howard
Thanks a lot! Will do.
The funny thing is, the rep did reference these exact terms, and then went on to say “ongoing direct deposit” was needed…seems that I need to challenge his interpretation.
Did you also get the bonus with just one DD?
I don’t have this account yet. I’m subscribed in hopes of seeing an in-branch+OOS DP, in which case I would stop by the branch the next time I’m in NY.
Live in the footprint. Opened on 9/25 in branch. Manager was skeptical I can qualify for the $200 bonus by the end of the month.
Pushed the required $200 via Zelle, CashApp, Morgan Stanley ACH, and RobinHood.
Something worked: bonus posted on 10/3.
They pulled CHEX in the branch, as I saw afterward upon checking CHEX online. Was my only CHEX inquiry at the time.
Read here that someone was approved for $250 bonus, called the customer service, but no luck. Overall, good experience, sleek app and user interface. Keeping it for now.
Appreciate the community here! Thanks all.
Has anyone from OOS successfully applied in-branch?
10/8 Opened Checking/Savings
10/9 $201 Fidelity push
11/4 $200 promo hits in checking and $50 promo hits in savings
Applied online 9/13, opening everyday checking and hero savings accounts.
$205 push from fidelity CMA 9/27
$50 savings promo posted 10/3
$200 checking promo posted 10/3
What was your Fidelity push coded as?
FID BKG SVC LLC TYPE: MONEYLINE
Thanks!
acc open in branch on Aug 29th – deposited $100 cash.
Sept 10: Chase Payroll $225 Push
Oct 3: $200 Promo
The extra $50 was already in the account i believe on the first or second day of account opening.
How long does it take to get the $250? I see $50 for savings account but not the $200. I tried calling them and they said I have to go in branch and get approval from a branch manager? Seems crazy… was hoping to avoid that as it’s a hassle.
Applied online 8/29, denied due to Chex, Opened in branch 8/31, lol/24 (pulled Chex again in branch)
$200 push from fidelity bloom 9/5
$200 push from capital one 360 9/12
$200 push from Schwab brokerage 9/13
$50 savings promo posted 9/11
$200 checking promo posted 10/3
Extended through 12/31. Terms still say 9/30, but under the blue banner with the T+C they have the extended date.