Deal has ended, view more bank account bonuses by clicking here.
Offer at a glance
- Maximum bonus amount: $200
- Availability: Nationwide with $5 donation, terms state the bonus is New members only in Pueblo County and any county that touches Pueblo County
- Direct deposit required: Yes, $500+
- Additional requirements: Use promo code
- Hard/soft pull: Mixed datapoints
- ChexSystems: Yes
- Credit card funding: Up to $1,500
- Monthly fees: None
- Early account termination fee: Unknown
- Household limit:
- Expiration date: September 30, 2021
Contents
The Offer
- Premier Members Credit Union is offering a bonus of $200 when you open a new earn big free checking account and establish a direct deposit of $500+ within 30 days of account opening and use the promo code NEWINPUEBLO
The Fine Print
- Offer valid for new personal checking accounts opened between 6/1/2021 and 9/30/2021.
- A new membership account must be opened with a Checking account and direct deposit of $500 or greater in order to be eligible for the bonus.
- Direct deposit must be new to Premier Members CU and must be payroll, pension, Social Security, or other government benefits.
- Requirements must be met within 30 days of account opening and the cash offer will be deposited into the new checking account no later than 30 days after requirements being met.
- Limited time offer.
- The $200 cash offer is considered interest and is subject to IRS and other tax reporting. The Earn Big Free Checking account is a tiered checking account.
- Visit PMCU.org for applicable rates.
- Qualifying direct deposit of your payroll or benefit must be a cumulative amount equal to or greater than $500 per month.
- New members only in Pueblo County and any county that touches Pueblo County.
- 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.
Early Account Termination Fee
I wasn’t able to find a fee schedule so unsure if there is any EATF.
Our Verdict
Premier Members Credit Union has a reverse tier money market account that offers 4% APY on the first $2,000. This $200 bonus seems relatively easy, we just don’t know what will work as a direct deposit and if it’s actually a hard or soft pull. It’s also super location restrictive which makes it less appealing.
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
Anyone get the bonus yet? I tried to open August 15th, took until September 15th to actually open it with the numerous hoops to go through.
Have you (anyone) received the bonus yet? I was not able to make a legit direct deposit but made about 4 deposits from various banks and I doubt they will pay.
Still no bonus, going on 3 1/2 months.
For identification, they wanted a copy of my social security card and my ID, proof of residence, and a recent paystub. 😳 I’m in state, but was ultimately denied, receiving an adverse action notification citing Experian data. They must have done a soft inquiry, since I’m not seeing any hard-pull, so that’s nice at least. Reasons cited were balances to total credit (33%), average age of accounts (3.5 years), too many accounts with balances (5 of 17), and too many inquiries in the past year (I only have one total inquiry on Experian???). I’ll be paying down most of those balances next month, so maybe I’ll ask them to reconsider at that time and see if I can still get the bonus from this promotion… 🤞
I applied from OOS. While the regular call-center folks said there would be a hard pull, an account-opening specialist told me they stopped doing that (and I didn’t receive any alerts about a hard pull). Unfortunately, I was declined, so I called the specialist again. They’re apparently very Chex-sensitive for OOS (she said I had 26 “in a short period,” which I think is about 18 months based on the last time I pulled Chex; she said they didn’t expect to see more than 1 or 2 in a year).
The promo is set to expire at the end of the month, but hopefully this will help people going forward
Their page does not mention at all that you have to be in Pueblo or anywhere close to it. The code “newinpueblo”, is suggestive that is for Pueblo residents but that doesn’t constitute legal terms and conditions of the promo. Is this a change from before? https://www.pmcu.org/newinpueblo/
Anybody successful funding their checking acct with CSP?
Any updates on whether there’s actually a hard pull for an application that is approved?
I applied but was denied (I’m OOS). Just checked my Experian credit report under inquires. I do not have anything from them, but could be they never got that far in the process as I was OOS, so I was probably immediately denied.
This has been the biggest pain in the butt to open my account. It’s been 7 days and I’ve finally got an account number but am unable to login online yet because they haven’t entered my info into their system. P.S. There is a completely separate link to “login” and check your account status. (https://secure.loanspq.com/consumer/v2/login/landing.aspx?enc2=CjDDGQgp6ViDEpMSQAmj1IGRKgisotKrHZJMm1mfkesHZlIQ28ryVIbRb6ZjjTBG-TW_g2IDzRAvwZcfgMh9dCF-0vKQjdm6GzkhRjnKu4Up9zHPsJdjUNkKSjFlA-jd&_ga=2.168318369.121369210.1629844908-2095808990.1629047335) I was stumped for at least an hour.
1. Denied from out state one day after submitting application. Reasons stated were too many inquiries on Experian (I’m assuming they really meant Chex) and being out of service area.
2. No hard pull at least for a denied application
Is this the part where it is open to the public (e.g. nationwide) for a $5 donation?
“If none of the above applies, you may join through Impact on Education (IOE).
If you elect to do so, Premier Members Credit Union will make a matching donation on your behalf to the IOE charity. This $5 donation matches your initial membership shares deposit. IOE is a charitable organization run by the Boulder Valley School District.”
follow up: was able to apply from OOS, waiting on approval.
Hard pull?
No idea, did not look yet.
checked via Experian. I do not see an inquiry yet. It has been only a few hours (not even 24 hours since applying). Not sure how long to wait until it should show up as an inquiry? I’ll check again in a few days. I am still waiting on Pueblo to approve the account anyway, so it’s very possible it did not hit my credit yet as an inquiry as the system did an automatic preliminary approval, and now I am waiting on a human to do a manual approval.
“Thank you for your application. Your application has been referred to one of our loan officers for additional processing. You will be contacted within one (1) business day in regards to your application. You may also contact the Credit Union at 303.657.7000 or 800.468.0634 to check on the status of your application.”
No. Haven’t heard anything. I’ll have to give them a call. Was waiting to see if they were going to contact me first, but doesn’t seem to be the case.
zeer0
It took 3 days for them to get back to me about ID verification after submitting the application
Thanks for the info, that helps.
When you get access to your account, can you let us know if you have the tracker that
WhatWeTacoBoutWhenWeTacoBoutLove mentioned? If so, that would be a good sign for being eligible for the bonus.
will do
Going to call Monday morning. I have not heard from them yet. Was giving it a few more days.
Are either of you going to try for the FNBO offer?
I’m not in footprint
Eric
Yes, I saw you mentioned you live in FL in some other post. I wrote this comment before I read the comment about TX being in FNBO’s footprint.
Now it seems possible, if not likely, that they won’t approve OOS people. I still might try though.
I’m not in footprint, but have been reading the post to see if there is a way, but seems unlikely
That’s too bad. It seemed unlikely that OOS was going to work for this offer due to the last line in the terms.
I applied for this a week ago. One nice thing is they have a little tool that tells you if you have a qualifying direct deposit for the tiered interest rates. Presumably, if it triggers the interest rates, it triggers the bonus.
The account offers $1500 of credit card funding fyi.
There is no verification at all that your code was accepted and I had to submit ID and utilities pics to verify residency (elsewhere in CO).
$1500 on a CC sounds fantastic!!
Don’t you also need 25 debit card transactions to qualify for the higher rate?
Yes, their tracker tells you if you have a DD and the number of transactions you’ve made.
I just looked at your comment again and saw that you live in CO. Does your county “touch” Pueblo County?
Nope. Here’s the list of counties that qualify for the better CD rate and may be required for this bonus: Pueblo, El Paso, Fremont, Custer, Huerfano, Las Animas, Otero, Crowley, and possibly Lincoln (corner-to-corner) counties
Also, the tracker is showing the trial deposits from Ally as counting towards DD e.g. $0.xx/$500. 👍
It’s looking good for the bonus for you. However, WF is more liberal with what counts for DD for waiving the fee than what counts for the bonus. Hopefully Pueblo is not like them.
I just checked and see the rate is only 1% on up to $2K. That’s certainly not worth doing 25 debit transactions for.
The bonus is supposed to post within 30 days of the $500 DD posting. Hopefully it posts much quicker.
This post doesn’t seem to be getting much traction yet so I don’t think there’s much risk in it ending early…yet.