[PA only] Freedom Credit Union $200 Checking Bonus + $200 Per Person You Refer

Update 1/16/24: Bonus is now up to $200. Hat tip to ShawntheShawn

Offer at a glance

• Maximum bonus amount: $200 + $200 per referral
• Availability: Must live, work, worship, volunteer or go to school in Bucks, Chester, Delaware, Montgomery, or Philadelphia County
• Direct deposit required: Optional, required for full $200 bonus
• Additional requirements: Open savings & checking account, eStatements & request check card
• Hard/soft pull: Unknown
• Credit card funding: Up to $500
• Monthly fees: None
• Early account termination fee: None listed in fee schedule
• Expiration date: None listed

The Offer

Direct link to offer

• Receive a sign up bonus of up to $200 when somebody refers you to Freedom Credit Union and you use the promotional code R9 (you’ll also be asked for the person’s name who referred you).
  • $200 for both parties if completing the direct deposit requirements.
    • Make two direct deposits within 60 days of account opening
  • $100 for both parties without the direct deposit requirements.

Referral Bonus

For every person you refer, you’ll receive whatever bonus they receive. There doesn’t seem to be any limit on the number of people you can refer. Feel free to share your referral information in the comments

The Fine Print

• The referring member and the new member will each receive a maximum of up to $200 per new member/referring member relationship.
• The incentive is only for new member accounts, not new accounts for existing members or joint members and is based on account openings, not applications.
• Each person can only be a new member once. Retroactive referrals will not be eligible.
• Applicant must be 18 years or older and meet membership eligibility requirements at time of account opening.
• All criteria must be met and/or completed within 60 days of account opening.
• In order to qualify for the additional Direct Deposit incentive, new member must make two payroll Direct Deposits within the 60-day period and the total of the Direct Deposits must be at least $100.
• Qualifying payroll Direct Deposits are defined as paychecks, Social Security payments and pension payments.
• If criteria is met and both new member and referring member accounts are in good standing, incentive will be paid on the first day following the 60-day period.
• Members who open accounts by fraudulent, suspicious, or illegal means, including but not limited to providing Freedom Credit Union with fraudulent or fabricated information, are not eligible to participate in this bonus offer.
• Freedom Credit Union may adjust the deposited bonus or remove the deposited bonus at any time if Freedom Credit Union suspects accounts were opened by fraudulent, suspicious, or illegal means, including but not limited to providing Freedom Credit Union with fraudulent or fabricated information.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

This account has no monthly fees, I was also unable to find an early account termination fee in their fee schedule.

Our Verdict

We don’t know enough about this bonus to really comment at the moment, if somebody signs up and provides more information (e.g hard/soft pull + credit card funding) then I’d recommend using their referral information to complete this bonus as a way of saying thanks. For now we haven’t added it to our list of the best bank bonuses.

Useful posts regarding bank bonuses:

• A Beginners Guide To Bank Account Bonuses
• PSA: Don’t Call The Bank
• Introduction To 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