[Expired] [PA] Allegent Community Federal Credit Union $500 Checking Bonus

Deal has ended, view more bank account bonuses by clicking here.

Offer at a glance

Maximum bonus amount: $500
Availability: Must live, work, worship, or attend school in Allegheny, Beaver, or Butler County, to be eligible for membership.
Direct deposit required: Yes, $500+
Additional requirements: See below
Hard/soft pull: Unknown
ChexSystems: Unknown
Credit card funding: Unknown
Monthly fees: $10, avoidable
Early account termination fee: $10 if closed within 90 days
Household limit: None listed
Expiration date: None listed

Contents

1 The Offer
2 The Fine Print
3 Avoiding Fees
- 3.1 Monthly Fees
- 3.2 Early Account Termination Fee
4 Our Verdict

The Offer

Direct link to offer

Allegent Community Federal Credit Union is offering a bonus of up to $500 when you open a new Premier Money Plus Checking account. Account must be opened and kept open for 12 months, the following requirements must be met during that 12 month period:
- Direct Deposit of $500 per month;
- No Non-Sufficient Funds (NSF) or Negative Account Activity; and
- Minimum of 20 Debit Card Transactions every 3 months.
If all required conditions have been met, $250.00 will be deposited into your Premier Money Plus Checking Account at the end of 6 months.
If all required conditions have been met after 12 months, another $250.00 will be deposited into your Premier Money Plus Checking Account at the end of 12 months

The Fine Print

In order to qualify for this promotion, you must open a new Premier Money Plus Checking Account and keep it open for 12 months.
During this 12-month period, all of the following transactions and activities must post and settle to your Premier Money Plus Checking Account: 1) Direct Deposit of $500 per month; 2) No Non-Sufficient Funds (NSF) or Negative Account Activity; and 3) Minimum of 20 Debit Card Transactions every 3 months. If all required conditions have been met, $250.00 will be deposited into your Premier Money Plus Checking Account at the end of 6 months. If all required conditions have been met after 12 months, another $250.00 will be deposited into your Premier Money Plus Checking Account at the end of 12 months. Any bonus amount will be reported to the IRS for tax-related purposes. A Premier Money Plus Checking Account requires a $1,500.00 minimum balance to open and earn dividends. A $10/month fee will be assessed if the average daily balance within the account is less than $1,500.00. Fees could reduce the earnings on the account. This promotion is only available for new checking accounts and does not qualify if you have had a checking account within the last 12 months or currently have a checking account with Allegent Community Federal Credit Union. Allegent Community Federal Credit Union reserves the right to refuse to open an account or to pay a bonus at any time for any reason. Offer can be withdrawn at any time. Membership eligibility required. Federally insured by NCUA.
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Fee of $2/month applies to paper statements. A fee of $10 applies if minimum average daily balance is less than $1500

Early Account Termination Fee

This account has a $10 fee if account is closed within 90 days, but you need to keep account open for a year to get the bonus.

Our Verdict

It’s annoying that you need to meet the requirements for so long, but it is is a nice big bonus. Probably only worth doing if you can move your employer direct deposit over to trigger the bonus. If anybody goes for this, share if it’s a hard/soft pull in the comments. We will add this to our list of the best bank account bonuses.

Hat tip to Frazz

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