Offer at a glance
- Maximum bonus amount:Â $250
- Availability:Â VA
- Direct deposit required: Yes, $1,000+ for three months
- Additional requirements:Â None listed
- Hard/soft pull:Â Unknown
- ChexSystems: Unknown
- Credit card funding:Â Unknown
- Monthly fees:Â None
- Early account termination fee:Â None
- Household limit:Â None
- Expiration date:Â None listed
Contents
The Offer
- ValleyStar Credit Union is offering a $250 checking bonus when you meet the following requirements:
- Make direct deposits of at least $1,000/month for three months
The Fine Print
- $250 direct deposit bonus credited to share draft (referred to as checking) account within 180 days of account opening if (a) a new primary (S8) share draft account is opened, (b) member establishes recurring monthly direct deposit to account of net pay that totals $1,000 or more, pension, or government benefits, (c) first direct deposit posts within 90 days after account opening and (d) three consecutive months of minimum monthly direct deposit is maintained within 150 days of account opening.
- Recurring transfers or deposits from other sources, such as other accounts at ValleyStar or accounts at other institutions, do not qualify.
- Offer good for new and existing members who establish a new primary (S8) share draft account only—members who closed their primary (S8) share draft account within two years of new primary share draft account open date are not eligible for bonuses.
- Limit one bonus per member/distinct social security number.
- Other restrictions may apply.
- Taxes on bonuses, if any, are the recipient’s responsibility. ValleyStar complies with federal and state tax reporting laws.
- 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
There is no EATF.
Our Verdict
Don’t know a lot about this bank, but if anybody decides to try and do this bonus let us know if it’s a hard or soft pull in the comments below.
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
For those of us in NoVA, don’t waste your time. At this page you can see all the counties where to have to reside to become a member: https://www.valleystar.org/our-mission-vision-and-core-values/#eligibility.
VIRGINIA COUNTIES
Amelia, Amherst, Appomattox, Augusta, Bedford, Campbell, Caroline, Charles City, Chesterfield, Cumberland, Dinwiddie, Franklin, Goochland, Halifax, Hanover, Henrico, Henry, King and Queen, King William, Louisa, New Kent, Patrick, Pittsylvania, Powhatan, Prince George, Roanoke and Sussex
VIRGINIA CITIES
Colonial Heights, Danville, Hopewell, Lynchburg, Martinsville, Petersburg, Richmond, Roanoke, Salem, Staunton and Waynesboro
NORTH CAROLINA COUNTIES
Caswell, Rockingham and Stokes
NORTH CAROLINA CITIES
Eden, King and Reidsville
If you live in these places, it would appear you have to be connected to the education system in some way, or have a business entity in the county. I don’t see any mention of a membership fee.