Update 1/6/24: Bonus now $400.
This was formerly called University Federal Credit Union.
Offer at a glance
- Maximum bonus amount: $400
- Availability: Anyone who lives, works, worships, does business or attends school in Salt Lake, Utah, Davis, Tooele, Summit or Wasatch Counties, or anyone with an immediate family member who meets any of those criteria, is eligible join UFirst Credit Union.
- Direct deposit required: Yes, $1,000+ per month for three months
- Additional requirements: See below
- Hard/soft pull: Soft pull
- ChexSystems: Unknown
- Credit card funding: None
- Monthly fees: None
- Early account termination fee: Unknown
- Household limit: None listed
- Expiration date: Offer valid through December 30th, 2022
Contents
The Offer
- UFirst Credit Union is offering a bonus of up to $400:
- $50 will be deposited when new account is opened
- An additional $50 will be deposited 6 months after account is opened
- Up to $150 will be deposited in $50 increments over 3 consecutive months after setting up and maintaining a direct deposit of at least $1,000 per month
- Up to $150 will be deposited in $50 increments over 3 consecutive months when the minimum requirement of 25 transactions per month, with a UFirst Credit Union Visa debit card, credit card or both, are completed
The Fine Print
- e. $50 will be deposited when new account is opened. An additional $50 will be deposited 6 months after account is opened. Up to $150 will be deposited in $50 increments over 3 consecutive months after setting up and maintaining a direct deposit of at least $1,000 per month. Up to $150 will be deposited in $50 increments over 3 consecutive months when the minimum requirement of 25 transactions per month, with a UFirst Credit Union Visa debit card, credit card or both, are completed
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
The eChecking 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 early account termination fee.
Our Verdict
Seems like a good bonus and worth doing due to the soft pull. We will add this to the best bank account bonuses.
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
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- Bank Bonus Posting Times
View Comments (21)
Used Chase biz for DD. Waited 6 months and wasn't awarded anything. Sent them a message and $250 showed up in my savings account the following day.
Currently a $500 offer; however, not churnable.
"To be eligible for Direct Deposit payouts, member must not have received any promotional payouts for any Direct Deposit promotions from UFirst Credit Union within 5 years prior to account opening."
I called and the promotion at https://www.ufirstcu.com/get500/ is currently valid. I decided to pass on it since there are no data points for what counts as direct deposit. Without it, you would still get $100 for having the account open for 6 months but that is not worth a hard pull. The 25 debit card swipes per month promotion requires minimum $5 transactions so I suspect most won't be interested in that part.
@2 Is it still worth doing since it seems like a hard pull?
Depends on how much hard pulls affect you, for most people they don't really matter anymore.
Can confirm they do a hard pull on Experian
+1, I had all my credit reports frozen and just received an email from a bank representative asking me to unfreeze my credit to proceed with finalizing the application I submitted over the weekend.
I can't find a $400 promo anywhere. The only bonus showing on the site is a $150 bonus for three months of direct deposits. https://www.ufirstcu.com/get-150-direct-deposit
"Anyone who lives, works, worships, does business"
Through my employer, I have customers who are all over the country, but I don't personally visit those areas. Has anyone ever used this as a way to get into a CU? If someone has used the live/work/worship reason, did they ask you about it?
The "direct link to offer" doesn't seem to go to the right place, it takes me to a student checking giveaway. This seems like the correct link: https://www.ufirstcu.com/get500/ actually up to $500 but for $100 of that it requires financing an auto loan with them, so realistically $400 tops.
Any OOS data points?
Looks like you have to live in the right counties or have family that does.
Are you my long distance relative? 😃
Gut feeling that this one won't pay out. There was a giveaway promotion that has since expired. They can deny by stating that the sign-up bonus was tied to this promo.