Connexus Credit Union is offering a $250 bonus for opening up a checking account. Unlike most other bank bonuses, this one doesn’t require a direct deposit!
Who qualifies for the bonus?
Anybody can join the credit union (Connexus Association) by paying a one-time $5 donation. If you live in the states below, you can join for free without donating:
- Minnesota (MN)
- New Hampshire (NH)
- Ohio (OH)
- Wisconsin (WI)
You’re also able to join for free if you are working for, have worked for, or retired from the following companies:
- ALPA Union
- Aqua Finance
- Aspirus Inc
- Orbital ATK
- Cincinnati Bell
- Liberty Mutual Insurance
- Marketplace Home Mortgage
- Marshfield Clinic
- TSI Incorporated
- Other health/education/insurance-related companies
- $600 Chase Checking and Savings Account Bonus
- $600 Citizens Bank Checking and Savings Bonus
- $400 Wells Fargo Checking Account Bonus
- $300 U.S. Bank Checking Account Bonus
- $200/$1,000 Capital One 360 Savings Account Bonus
Where do I enroll?
NINJA UPDATE: That was quick – they pulled the promotion due to its popularity. Nice job to those who got in!
Along with joining the credit union, in order to be eligible for the bonus, you can’t be a current customer or had a Connexus checking account that was closed on or after 1/2/20.
What are the details?
You’ll get the $250 bonus once you do the following:
- Open a new Connexus Xtraordinary checking account with promo code FREECHECKING
- Enroll in eStatements (electronic statements)
- Have a minimum of $2,000 in net spending using your debit card within 6 months of account opening
Household Limit: None
Direct Deposit Required: No
Hard/Soft Pull: Hard
Early Account Termination Fee: None
Here’s the fine print:
- Offer valid for new Connexus Credit Union Xtraordinary Checking Accounts opened between 12/31/2019 and 2/17/2020 with promotion code FREECHECKING.
- Credit Union membership required.
- Offer not valid for Connexus Credit Union members with any checking account currently open with Connexus Credit Union or that was closed on or after 1/2/2020.
- To earn the $250, you are required to open a new Xtraordinary Checking Account, subscribe to eStatements, and have a minimum of $2,000 in net spend purchases using your debit card within the first six months of account open date.
- ATM transactions not included.
- If qualified, $250 will be deposited into your new Connexus checking account six months after account open date.
- Qualifying accounts become ineligible if the account is closed prior to receipt of the $250 deposit.
- $250 subject to income tax reporting.
- Offer limited to one redemption per membership.
- Offer subject to change or termination.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Good news! This checking account has no monthly fees to worry about.
The Bottom Line
Some readers have asked for bank bonuses that don’t require direct deposit bonuses. This is a good one – no direct deposits needed and having to spend only $2,000 on their debit card within the first six months is doable to most.
Pity that it’s a hard pull vs a soft pull. That being said, the majority of people should take advantage of this bonus. The only ones who shouldn’t are folks that have a few hard inquiries recently and they’re thinking about buying a home or car in the short-term,