[Expired] [PA, NJ only] First Commonwealth Federal Credit Union $300 Checking Bonus

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

Offer at a glance

  • Maximum bonus amount: $300
  • Availability: PA, NJ
  • Direct deposit required: Optional
  • Additional requirements: Unknown
  • Hard/soft pull: Soft pull
  • ChexSystems: Yes
  • Credit card funding: Up to $500
  • Monthly fees: None
  • Early account termination fee: $20, 90 days
  • Household limit: None listed
  • Expiration date: 12/31/2023

The Offer

Direct link to offer

  • First Commonwealth Federal Credit Union is offering a $300 checking bonus when you open a new checking account and complete the following requirements
    • Use promo code GET300
    • Deposit $1,000 in 60 days of account opening or enroll in direct deposit.

The Fine Print

  • Promotion open to U.S. Residents who are 18 years of age or older at the time the account is opened using promotion code GET300. Limit one (1) bonus per tax identification number used to open a new FCFCU account. New members only (may not be primary owner on any existing account in the past 6 months). Indirect members and Business members are not eligible for the new member bonus.
  • $5 in Regular Share Account is required to establish membership. Benefit Checking account and membership must be opened on the same day. Deposit requirement can be satisfied with check, cash, electronic transfer and/or direct deposit within 60 days of account opening.
  • Bonus can be earned for new memberships with a checking account opened between 8/1/2023 – 12/31/2023. Bonus payment will be made within the first two weeks of the month following the satisfaction of bonus requirements. Member must be in good standing as defined by FCFCU’s Bylaws to receive any bonus payment. Bonuses are considered dividends/interest and will be reported to the IRS, if applicable. The recipient of the bonus payment is solely responsible for payment of applicable taxes. For questions, please seek advice of a qualified tax professional. All decisions of FCFCU regarding this promotion are final. FCFCU may extend, terminate or change the terms and conditions of this promotion without notice. Subject to all applicable federal, state, and local laws and regulations. Subject to approval. Additional restrictions may apply.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Value checking account has no monthly fees to worry about.

Early Account Termination Fee

According to the fee schedule there is a $20 fee if closed within 90 days of account opening.

Our Verdict

Easier requirements than last time and the bonus is an extra $50. This is a very good bonus with very easy requirements. I’d recommend signing up ASAP as I can see this being pulled early.

Hat tip to Bockrr

Useful posts regarding bank bonuses:
    William Charles
  • On August 5, 2023, 14:00
Tags: credit card fundingdirect deposit not requirednj bank bonusespa bank bonusessoft pull

View Comments (248)

  • Just got off phone with them asking about a 1099 since I haven't gotten one. I was told they do not issue a 1099 for bonuses <$600. So don't expect a form for this $300 bonus, it will not be reported.

    Use this information as you see fit.

    • I've been checking my mailbox and online for 1099 since January 31. I called today, I was told the same as @guest_1667900.Since this was less than $600, it will not be reported to grumpy Uncle Sam.

      The rep also said that the $300 was for membership but if interest was earned on that $300 and it was over $10, I would have received the 1099.

      Oh well...

        • actually i called cs today and they confirmed not reporting anything under 600 . only interest amount will be reported if more than 10

  • I got hit with the $3 eStatement fee. I forgot to register for it, got that done now.

    I can't remember if this was listed in the terms and conditions but can I still withdraw the initial fund and bonus before or after the 90 days?

  • @2
    This is the message i received while trying to close the account. Min to keep open is 6 months.

    "Being that the account was opened during a promotional offer and funds were received, the account must remain open for six months or the credit union reserves the right to charge the account for the amount of any bonuses paid."
    

  • Is the account number the exact same as the member number or do I need to add "101000" on top of the member number for First Commonwealth Bank?

    • You do. And prefix your savings account (if you have one) with '100000'. Oh...and it's First Commonwealth FCU -- not 'Bank'.

      • No it isn't. The checking (and savings) account number includes the member number but is 13 digits long. The member number is seven digits.

        • It could be like BluPeak where the member # works but there's also a longer (or different) account # that works. Anyway, I have done ACH deposits and withdrawals using only the member # and it has worked.

  • I see some old data points that Schwab worked for a DD for First Commonwealth Federal Credit Union in 2021. Can anyone verify if a more recent push triggered the DD?

  • DP from Pennsylvania:

    09/22 Account opened
    09/26 $1000 Deposits from Affinity FCU
    10/03 $300 Bonus deposited in Savings account

  • NJ DP
    8/14/23 Account opened
    8/29/23 $1001 deposit from Juno
    10/03/23 $300 "Taxable Marketing Promo/Deposit MARKETING PROMO" credit posted

  • They had a person call me and verify some information, pretty straight forward to open it afterwards

  • Was able to fund $1000 to checking and $5 to savings over phone with Citi AABiz. Cash advance lowered to $0, posted as sale.

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